Chile: An Island of Stability in South America

Not all the countries in Latin America managed the commodity boom successfully, and some are now experiencing the side effects of high spending during boom times. But this is not the case in Chile, a notable example of moderate politicians successfully managing an economic windfall. Chile is a Latin American success story in large part because of its commitment to fiscal responsibility, and though changes to its electoral system will affect the makeup of its congress, its dedication to limiting public spending is not going anywhere....