With the current president Michelle Bachelet planning further tax increases to provide free education to all Chileans, it is possible that another miracle may be on the horizon. Miracle of Chile is a multifaceted art project investigating Milton Friedman's famous phrase "Miracle of Chile." Friedman's sidekick, economist Art Laffer, preened that Pinochet's Chile was, 'a … In 1981 Friedman declared the phrase to reflect a transformation of Chile's economy through a neoliberal formula of privatization, deregulation of markets and cuts to social spending. For starters, it was the Chilean government and not the free-market that developed the technology for … Leave a reply. In a famous 1982 column in Newsweek, Friedman described Chile under the dictatorship not only as an "economic miracle," despite the dramatic rise in poverty and inequality under the regime, but also as an "even more amazing political miracle." Chile has grown in absolute terms, of course, and, had an Allende-like regime persisted, Chile would probably be much poorer today. However, less known are the ‘Chilean Miracle’s origins – and the role of American elites in the system vehemently protested today. The Myth of the Chilean Miracle by Stephanie Rosenfeld SANTIAGO, CHILE - A major labor demonstration here on July 11 brought an end to the long labor-government honeymoon since Chile's 1990 transition to democracy. It was Friedman who himself coined the phrase 'Miracle of Chile'. In 1955, a partnership was established between the University of Chicago and the Pontificia Universidad Católica de Chile. For the 33 miners trapped half a mile underneath the Chilean earth, the past 69 days of their lives have been filled with fear and uncertainty. Chile's economic miracle was indisputably the product of a vile dictatorship that overrode normal political considerations to make sweeping reforms before inexplicably dissolving itself in 1980. The arc of Chile's salmon industry is a study in mythmaking. Milton Friedman (1912-2006) was an economist and professor at the University of Chicago. Chilean (blue) and average Latin American (orange) GDP per capita (1980–2017) Chilean (orange) and average Latin 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 … – Andrew Logan This essay is a summation of one of the main topics in The Shock Doctrine by Naomi Klein 1. There is no “Chilean Miracle”. Chicago Boys. 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