"Chile economic miracles" and "Chicago boys": from the history of the economic reform attempt of Augusto Pinocet

The article analyzes the history of attempts to carry out economic reforms in Chile, which was called the «Chilean miracle». This concept was introduced by the American economist Milton Friedman in order to describe the results of the economic liberalization reforms that were carried out in Chile during the military dictatorship of Augusto Pinochet between 1973 and 1990. The coming to power of the military political junta after the 1973 coup d'etat found Chile in a serious economic situation. Pinochet's reforms represented the forcible introduction of a free market economy in Chile and were characterized by a sharp reduction in public spending, a decrease in the money supply, the privatization of state-owned companies, the removal of obstacles to free enterprise, the reduction of tariff protectionism, and the encouragement of foreign investment. The policy of industrial protectionism in order to replace imports, which created space for huge state monopolies. The privatization of the flagships of the Chilean economy took place without any control, without bidding and with a complete lack of transparency, which caused great economic damage to the interests of the country. The illegitimate and illegitimate nature of the military dictatorship, regardless of its economic achievements, gave rise to a regime responsible for increasing violence and massive violations of human rights.