If Chile Can Do It......Couldn T North America
Bill Clinton might well pay attention to Eduar-do Silva’s story as he meets with his 33 hemi-spheric colleagues at the Summit of the Americas in Miami this week – for several reasons. First, the success of Chile’s privatized social-security system is a symbol of the new confidence and explosive economic growth in South America. Pinochet’s pension plan has created a massive pool of money available for private investment in Chile, $22 billion and rising (nearly 50 percent of that country’s GDP, expected to top out at 100 percent in 2005)....