Neoliberalism In Chile

1077 Words5 Pages
The concept of neoliberalism has brought many changes both in the world of politics and economy throughout the world, as well as in Chile. Neoliberalism has transformed Chile both politically and economically or even made Chile one of the luckiest victims of neoliberalism. In this essay, the writer will try to explain comprehensively about what is neoliberalism is and how it practices or policy shape the nature of domestic and global politics, especially Chile under Augusto Pinochet in 1973. Neoliberalism or “modern Liberalism” (Walzenbach, 2016, p. 88) is the idea that society should be shaped by the free market and that the economy should be deregulated and privatized. Thus, it is project that the state must reduce its role and keep it to a bare minimum (only to create and preserve the economic institutional framework) as well as more embrace the freedom of the individual to choose and decide (Friedman, 1962).…show more content…
Strong private property rights mean that every individual have a right to owned property which impacts human most basic needs at large, such as in areas like water, land, health care (privatizations). Meanwhile, free markets mean that the economics are based on the rule of the market. Every private enterprise is no longer bound by the state regulation (deregulation) that may prevent the market to act as the self-regulating system. Consequently, capital gain become the top of everything, no matter how much social damage causes. After that free trade, it is mean that a state must open their market to everyone and erase every obstacle on trade in order to achieve many capital gains from
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