Chicago Boys
The Chicago Boys is a term that has been in use since at least 1980s to describe a group of Latin American economists educated in the Department of Economics of the University of Chicago.[1] It has been used in particular to describe a group of Chilean economists who became the primary government advisors to the military junta of General Augusto Pinochet. They introduced many pro-free market economic policies focused on economic liberalization, privatization of state-owned companies, and stabilization of inflation.[2][3][4]
Conservative and libertarian economists often credit them with instigating what has been described as the Miracle of Chile which marked not only the beginning of Chile's rapid economic development, but more importantly, democratization of political regime. As told by Milton Friedman: "The real miracle of Chile is not how well it has done economically; the real miracle of Chile is that a military junta was willing to go against its principles and support a free market regime designed by principled believers in a free market."[5]
References
- ↑ Becker, Gary S. What Latin America Owes to the "Chicago Boys", Hoover Digest, October 30, 1997, No. 4
- ↑ https://books.google.sk/books?id=nzFXAgAAQBAJ&pg=PA95&lpg=PA95
- ↑ https://books.google.sk/books?id=tIOzDAAAQBAJ&pg=PA173
- ↑ https://books.google.sk/books?id=C3mHCgAAQBAJ&pg=PA262
- ↑ Milton Friedman, "Economic freedom, human freedom, political freedom", The Human Rights Reader, 12.1, p. 342 [1]
