#Chile #Allende #SantiagoSchool #ChicagoSchool #Neoliberalism #Socialism: "The Santiago School owes its existence to the fact that the UN Economic Commission for Latin America and the Caribbean (Cepal) is headquartered in the Chilean capital. For the first few decades after its launch in 1948, this institution challenged the mainstream account of free trade – and technology’s role in it – which has been espoused by economists in Chicago and the Massachusetts Institute of Technology (MIT).

Imagine a richer country selling cars to a poorer one, which, in turn, reciprocates with bananas. As the two specialise and introduce technological innovations, prices of both commodities fall. Everyone is happy; progress marches ahead.

The Cepal economists disagreed with this rosy prediction, arguing that, over time, the developed countries tend to come out stronger from such trades. First, technological innovation benefits the car manufacturers more than it helps the banana growers; you can’t 3D-print tropical fruit. Second, rich countries that typically produce more advanced goods also have powerful trade unions, who, in defending the interests of their workers, also prevent the prices of cars from adjusting as swiftly as those of bananas."

https://www.newstatesman.com/the-weekend-essay/2023/09/salvador-allende-fight-big-tech