The Chilean economy and its 'Chicago Boys'
Thinkers trained in free-market economics in Chicago in the USA, came up with a plan for Chile's economy which was put into action after its military coup in 1973.
Following the violent military coup that overthrew Chile's socialist government in 1973, the new regime led by General Augusto Pinochet began a radical overhaul of the economy. It was based on a free-market economic plan created by a group of economists known as the Chicago Boys. Mike Lanchin has been speaking to one of them, Rolf Lüders.
Photo: General Augusto Pinochet (L) poses with socialist Chilean president Salvador Allende (R) in Santiago, just after Allende appointed him the head of the army, and only three weeks before Pinochet's military coup in September 1973. Credit: AFP/Getty Images
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Witness History
History as told by the people who were there
