economic policy. He allowed the peso to float and reinstated restrictions on the movement of capital in and out of the country. He deleted some bank regulations, and simplified and reduced the corporate tax. Chile went ahead with privatizations, including public utilities and the re-privatization of companies that had briefly returned to government control during the 1982–83 crisis. From 1984 to 1990, Chile's gross domestic product grew by an annual average of 5.9%, the fastest on the continent. Chile developed a good export economy, including the export of fruits and vegetables to the northern hemisphere when they were out of season, and commanded high export prices. Evaluation Initially the economic reforms were internationally praised. Milton Friedman wrote in his Newsweek column on 25 January 1982 about the Miracle of Chile. British Prime Minister Margaret Thatcher credited Pinochet with bringing about a thriving, free-enterprise economy, while at the same time downplaying the junta's human rights record, condemning an "organised international Left who are bent on revenge." With the economic crises of 1982 the "monetarist experiment" was widely regarded a failure. The pragmatic economic policy after the crises of 1982 is appreciated for bringing constant economic growth. It is questionable whether the radical reforms of the Chicago Boys contributed to post-1983 growth. According to Ricardo Ffrench-Davis, economist and consultant of the United Nations Economic Commission for Latin America and the Caribbean, the 1982 crises as well as the success of the pragmatic economic policy after 1982 proves that the 1975–1981 radical economic policy of the Chicago Boys actually harmed the Chilean economy. Social consequences The economic policies espoused by the Chicago Boys and implemented by the junta initially caused several economic indicators to decline for Chile's lower classes. Between 1970 and 1989, there were large cuts to incomes and social services. Wages decreased by 8%. Family allowances in 1989 were 28% of what they had been in 1970 and the budgets for education, health and housing had dropped by over 20% on average. The massive increases in military spending and cuts in funding to public services coincided with falling wages and steady rises in unemployment, which averaged 26% during the worldwide economic slump of 1982–85 and eventually peaked at 30%. In 1990, the LOCE act on education initiated the dismantlement of public education. According to Communist Party of Chile member and economist Manuel Riesco Larraín: Overall, the impact of neoliberal policies has