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Up for Debate: Reform Without Liberty: Chile's Ambiguous Legacy
Chile's advisors defend their policies; Latin American reformers reflect on the lessons and cautions of Chile's example.
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Professor Emeritus, University of Chicago
As the leader of the Chicago School, Nobel Prize-winning economist Milton Friedman inspired Chile's reforms. He saw economic reform as a step towards a free society.
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Professor Emeritus, University of Chicago
For Friedman's Chicago colleague Al Harberger, market reforms helped Chile out of crisis faster than its neighbors, creating a policy consensus that has lasted under democracy.
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Professor of Economics; Director, Centro de Analisis de Politicas Publicas
Leftist economist Osvaldo Sunkel, once a proponent of dependency theory, saw Chile benefiting from, rather than launching, a worldwide policy "climate change."
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Finance Minister of Chile, 1974-1982
For Sergio de Castro, a leader among the Chicago Boys and Gen. Pinochet's finance minister for eight years, the military's reforms squarely contributed to improved conditions for all Chileans.
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Finance Minister of Chile, 1990-1994
For Alejandro Foxley, finance minister after the restoration of democracy, the military's policies harmed ordinary Chileans, and Chile's true lesson is that democracy delivers better economic results.
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Economy Minister of Argentina, 1991-1996, 2001
Argentine economist and reformer Domingo Cavallo drew on the Chile experience to shape his programs, attempting to separate the "ideological" from the "practical."
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President of Bolivia, 1993-1997
Gonzalo "Goni" Sanchez de Lozada pushed through shock-therapy market reforms in Bolivia during the mid-1980s with a democratic government, in his view setting a stronger example than Chile's.
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World Bank Senior Vice President and Chief Economist, 1997-2000
For economist Joseph Stiglitz, Chile's successes, in retrospect, are not necessarily the successes of unfettered "free markets."
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Professor of Economics, Harvard University
For economist Jeffrey Sachs, not just the dictatorship but also the economic record meant that Chile only became a model after its democratic transition.
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