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Mercantilism

The economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism. Mercantilism is a national economic policy that is designed to maximize the exports, and minimize the imports, of a nation.

Episode 905: The Chicago Boys I - Planet Money

Chile is one of the wealthiest, most stable economies in South America. But to understand how Chile got here--how it became the envy of neighboring countries --you have to know the story of a group of Chilean students who came to study economics at the University of Chicago. A group that came to be known as the Chicago Boys.

Episode 906: The Chicago Boys, Part II - Planet Money

In the early seventies, Chile, under Marxist President Salvador Allende, was plagued by inflation, shortages, and a crushing deficit. After a violent coup in 1973, the economy became the military's problem.

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