CHILE: Fighting Bear

The most controversial figure in Chile this week is Finance Minister Roberto Wachholtz. Reason: he is out to stop Chile's 300% inflation (on the 1939 price average), even if a third of the country goes broke in the process.

Chileans know Wachholtz as a tight-lipped businessman who made an early fortune in the building industry, conceived the idea of Chile's RFC-like Development Corp. and served as its first president, helped found Chile's largest oil company. He now runs a model farm in the province of O'Higgins, south of Santiago.

The first time Wachholtz held office, back in 1939, leftists turned...

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