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Chilean (blue) and average Latin American (orange) GDP per capita (1980–2017) Chilean (orange) and average South American (blue): Rates of Growth of GDP (1971–2007) The "Miracle of Chile" was a term used by economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the effects of the economic policies applied by a large group of Chilean economists who ...
The economy of Chile operates as a market economy and is classified as a high-income economy by the World Bank. [27] It is recognized as one of the most prosperous countries in South America, [28] leading the region in areas such as competitiveness, income per capita, globalization, economic freedom, and low levels of perceived corruption. [29]
The outcomes of these policies were praised by then Milton Friedman as the Miracle of Chile. Chile suffered 1997 Asian financial crisis. Central Bank of Chile. Due to global The World Bank predicts a slowdown in GDP growth from to 3% in 2021, [4] Current President and billionaire Sebastián Piñera (2015-) Chile Vamos party a series of 2010-2012
When Chile became an independent nation in 1818 it was the poorest [clarification needed] territory in the Americas, [4] [5] by the 1890s it had become richer [clarification needed] than Sweden, and twice as rich than Japan [6] and it became one of the 15 richest [clarification needed] nations in the world, [7] a position it would retain for ...
Chile became an experiment in free markets when Augusto Pinochet called in followers of Friedman to evaluate the economy, the so-called Chicago boys. The authors argue that the economic reforms proved successful , but since Pinochet was a dictator who came to power in a coup and had many political opponents murdered , the whole idea of free ...
Hundreds of thousands of people have paralyzed the country, demanding an end to economic inequality.
When the local economy is strong, it contributes to the larger, broader economy in a positive way. Gabe Krajicek, CEO of Kasasa , said small business success means more local money and tax dollars ...
Chileans are bundling up with more clothes and clutching cups of hot coffee as the country faces the most intense cold snap in nearly 70 years, bringing winter weather in the middle of autumn.