Here are the key points of the Chilean economic model under Pinochet's dictatorship:
- Chile aggressively implemented neoliberal economic policies in the 1970s-1980s under Pinochet's authoritarian regime, making it a testing ground for radical free market reforms.
- The regime was strongly influenced by the neoliberal "Chicago Boys" and their vision of eliminating trade barriers, privatizing industries, cutting public spending, and reducing the state's role in the economy.
- This transformed Chile into one of the first nations to fully adopt the Washington Consensus model of economic liberalization. It became a lab experiment for applying extreme free market theory at a societal level.
- However, the reforms were implemented top