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The Dramatic Fall of Chile as Latin America’s Neoliberal Role Model

By: 
Ariela Ruiz Caro

After the outbreak of the most intense and massive social protests ever recorded in the history of Chile, on November 16 the government and most political parties signed an agreement to restore peace and public order and initiate a process to draft a new constitution.

The protests, triggered by the rise in subway fares on Oct. 18, called into question the supposed Chilean success story of the neoliberal economic model implemented in the country during the dictatorship of General Augusto Pinochet (1973-1989). Developed by the so-called Chicago Boys, successive administrations since the 1990 return to democracy in 1990 sustained the model as state policy.