The "Chicago Boys" economic reforms

The "Chicago Boys" were a group of Chilean economists trained at the University of Chicago who promoted free-market reforms starting in the 1970s. Their policies aimed to reduce government control over the economy by privatizing state industries, cutting taxes, eliminating trade barriers, and encouraging private enterprise. The goal was to create a more efficient, competitive economy and foster growth. While these reforms helped open Chile’s economy to global markets and reduced inflation, they also led to increased income inequality and social challenges. Overall, their influence significantly transformed Chile’s economic landscape toward a more market-oriented system.