de a frequent appearance in news accounts, as in the stunning rejection of the ruling party in Poland, or the stunning setback suffered by Chile's Augusto Pinochet in a referendum on the continuation of his dicta- torship. Or, perhaps most astonishing, the stunning defeat of Communist Party stalwarts in a numb

riers would be to set up some sort of global federal government. Another would be to install a "free-market Stalin"—a figure in the mould of Chile's Augusto Pinochet—who would force his country's citizens to accept the constraints of the global market, including debt repayment. Neither option is appealing. The

is one initiated by a group of radically right-wing free market economists. The Chilean pension system that the 'Chicago boys' created for dictator Augusto Pinochet in Chile works in exactly this manner. In Chile, all salaried workers are forced to pay 10% of their salary into one of a number of strongly regul