Commentary Back in the 1970s, the nation of Chile embarked on one of the boldest sets of free market economic reforms in history. The government called in the Chicago Boys, as they were called, led by Milton Friedman and other University of Chicago free market economists. They were given a free hand to redesign the Chilean economic system with property rights, a low flat tax, privatization of the Social Security system and industry deregulation. In 1991, Friedman wrote that Chile now “has all three things: political freedom, human freedom, and economic freedom. Chile will continue to be an interesting experiment to watch to see whether it can keep all three.” For four decades, the experiment worked better than anyone could have imagined. According to a study by economist Axel Kaiser for the Cato Institute: “Between 1975 and 2015 per capita income in Chile quadrupled to $23,000, the highest rate in …