Enacted sweeping "liberal" reforms under dictator Augusto Pinochet (on the advice of Milton Friedman's students) which resulted in widespread economic failure and murder of innumerable opponents. Saved later by nationalization of the copper industry. Say, weren't libertarians supposed to be against government violence?
As of 2014, Chile's educational reforms include switching away from a Pinochet voucher system for education funding and ending for-profit schooling to lessen inequality and establish education as a right.
- Doesn't neo-liberalism in Chile prove that the free market benefits everyone? [More...]
- "[...] "economic liberty" has not produced genuine "political liberty" as Friedman (and others) claim. Ultimately, for all but the tiny elite at the top, the Pinochet regime of "economic liberty" was a nightmare." Part of An Anarchist FAQ.
- Hayek von Pinochet [More...]
- "Farrant et al demonstrate that Hayek’s support of Pinochet was not contingent or begrudging -- an alliance of convenience due to Pinochet’s embrace of free market economics -- but was rather the product of two longstanding ideas and commitments."
Chile's neoliberal experiment eventually produced the worst economic crisis in all of Latin America.
Dani Rodrik, "Rescuing Economics from Neoliberalism"