Capitalism and globalization used to be dirty words for Latin American leftists, who in the past were quick to blame the region's poverty on what they saw as these largely destabilizing and outside factors. But after a decade in which savvy leftist legislators in Chile pursued a bold economic program to embrace the free market, while at the same time creating public policy measures to address the needs of the most impoverished in the country, poverty is rapidly becoming an anachronism in Chile, one of the world's fastest-growing economies.

Poverty has fallen faster in Chile than anywhere else in Latin America,...

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