Was Chile’s Economic Miracle a lie?

Chile’s economic miracle did happen, but to leave it there is to skip over the relevance of this part of Chile’s history. Chile’s economic miracle should be depicted as a solidification of corporate power not a benefit to Chileans as a whole, professor C.B. Macpherson of the University of Toronto objected to Friedman’s take on free-market liberalism and Chile is a perfect example of this. Macpherson argued that political freedom actually came before economic freedom, and the ones to initially benefit from this economic freedom were property owning elites, who used their new-found political freedom in their own interests, opening the doors to unrestrained capitalism. The current protests in Chile are perfect evidence of this, people are massively dissatisfied as although the economy has grown since Pinochet inequality is rampant, with half of what is traded on Chile’s stock exchange is controlled by only four families.

aljazeera.com/indepth/features/2013/11/other-side-chile-economic-miracle-201311159282210130.html jstor.org/stable/3231503?seq=1