The Chile Project

English language

Published May 23, 2023 by Princeton University Press.

ISBN:: 978-0-691-20862-6

In "The Chile Project", Sebastian Edwards tells the remarkable story of how the neoliberal economic model—installed in Chile during the Pinochet dictatorship and deepened during three decades of left-of-center governments—came to an end in 2021, when Gabriel Boric, a young former student activist, was elected president, vowing that “If Chile was the cradle of neoliberalism, it will also be its grave.” More than a story about one Latin American country, "The Chile Project" is a behind-the-scenes history of the spread and consequences of the free-market thinking that dominated economic policymaking around the world in the second half of the twentieth century—but is now on the retreat.

In 1955, the U.S. State Department launched the “Chile Project” to train Chilean economists at the University of Chicago, home of the libertarian Milton Friedman. After General Augusto Pinochet overthrew socialist president Salvador Allende in 1973, Chile’s “Chicago Boys” implemented the purest neoliberal …

In "The Chile Project", Sebastian Edwards tells the remarkable story of how the neoliberal economic model—installed in Chile during the Pinochet dictatorship and deepened during three decades of left-of-center governments—came to an end in 2021, when Gabriel Boric, a young former student activist, was elected president, vowing that “If Chile was the cradle of neoliberalism, it will also be its grave.” More than a story about one Latin American country, "The Chile Project" is a behind-the-scenes history of the spread and consequences of the free-market thinking that dominated economic policymaking around the world in the second half of the twentieth century—but is now on the retreat.

In 1955, the U.S. State Department launched the “Chile Project” to train Chilean economists at the University of Chicago, home of the libertarian Milton Friedman. After General Augusto Pinochet overthrew socialist president Salvador Allende in 1973, Chile’s “Chicago Boys” implemented the purest neoliberal model in the world for the next seventeen years, undertaking a sweeping package of privatization and deregulation, creating a modern capitalist economy, and sparking talk of a “Chilean miracle.” But under the veneer of success, a profound dissatisfaction with the vast inequalities caused by neoliberalism was growing. In 2019, protests erupted throughout the country, and in 2022 Boric began his presidency with a clear mandate: to end neoliberalismo.

In telling the fascinating story of the Chicago Boys and Chile’s free-market revolution, "The Chile Project" provides an important new perspective on the history of neoliberalism and its global decline today.

3 editions

Ben Waber reviewed The Chile Project by Sebastian Edwards

An In-Depth, Individual-Focused History of UChicago's Complicated Entanglement with Chile

5 stars

The University of Chicago's engagement with Chile during the Pinochet regime has become more well known over time, but this book dives into that history to provide an incredibly well researched look into this period, its effects, and its legacy. What emerges is an economically-focused history of the different players and policies that led to the introduction of many neoliberal policies in Chile, potentially laying the groundwork for later economic growth.

Edwards is an involved participant in the events of this book, and while he does a decent job at trying to play a neutral author his belief in the positive nature of neoliberalism bleeds through. While constantly lauding Chile's economic growth under some neoliberal policies, he fails to meaningfully consider alternative explanations or compare with much more successful models outside of Latin America (South Korea in particular comes to mind). Beyond that, the moral question of whether collaborating …

The University of Chicago's engagement with Chile during the Pinochet regime has become more well known over time, but this book dives into that history to provide an incredibly well researched look into this period, its effects, and its legacy. What emerges is an economically-focused history of the different players and policies that led to the introduction of many neoliberal policies in Chile, potentially laying the groundwork for later economic growth.

Edwards is an involved participant in the events of this book, and while he does a decent job at trying to play a neutral author his belief in the positive nature of neoliberalism bleeds through. While constantly lauding Chile's economic growth under some neoliberal policies, he fails to meaningfully consider alternative explanations or compare with much more successful models outside of Latin America (South Korea in particular comes to mind). Beyond that, the moral question of whether collaborating and supporting a despicable regime isn't meaningfully grappled with.

Despite these limitations, this book is an exceptional work of scholarship and demands to be read by folks interested not just in history or economics but also in academia's responsibility to society. Highly recommend

Ben Waber

rated it

April 15

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