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The Chicago Boys (c. 1970s) [1] were a group of about 25 young Chilean economists who trained at the University of Chicago under Milton Friedman and Arnold Harberger. This article is about the Decade 1970-1979 For the Year 1970 see 1970. Chile, officially the Republic of Chile ( Spanish:) is a country in South America occupying a long and narrow Coastal strip wedged between the Economics is the social science that studies the production distribution, and consumption of goods and services. The University of Chicago is a Private university located principally in the Hyde Park neighborhood of Chicago. Milton Friedman (July 31 1912 November 16 2006 was an American Nobel Laureate Economist and Public intellectual. Arnold C Harberger (b July 27, 1924 in Newark New Jersey) is an American economist They later worked in Augusto Pinochet's administration to create a free market economy and decentralize control of the economy. Augusto José Ramón Pinochet Ugarte (November A free market is a Market in which property rights are voluntarily exchanged at a price arranged completely by the mutual consent of sellers and buyers

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Chile

The Chicago Boys received their basic economic education from the School of Economy in Universidad Católica. The Pontifical Catholic University of Chile (UC formerly PUC (Pontificia Universidad Católica de Chile is one of Chile 's oldest universities and one of the most prestigious In 1956 that School had signed a three-year program of intensive collaboration with the Economics Faculty of the University of Chicago (the "Chile Project"). It entailed Chicago professors going to teach in Santiago, the donation of a full modern library, scholarships to the best Chilean students, etc. Under the leadership of Dean Theodore Shultz of the University of Chicago, this program was renewed three times and eventually totally transformed the teaching of economics in Chile. That is why the graduates of the School of Economics of "La Catolica" (the Catholic University) are called "the Chicago Boys. " Only some of them went later for postgraduate studies at the University of Chicago, where they enrolled in Arnold Harberger's Latin American Finance Workshop and Milton Friedman's Money and Banking Workshop, but several others went to other top level universities in the U. The University of Chicago is a Private university located principally in the Hyde Park neighborhood of Chicago. Arnold C Harberger (b July 27, 1924 in Newark New Jersey) is an American economist Milton Friedman (July 31 1912 November 16 2006 was an American Nobel Laureate Economist and Public intellectual. S. like Harvard and Columbia Universities. Columbia University is a private University in the United States and a member of the Ivy League. The whole group was heavily influenced by the Chicago School of Economics, and especially by the writings and public policy proposals of Milton Friedman.

Elsewhere in Latin America

Although the largest and most influential group of so-called Chicago Boys was Chilean in origin, there were many Latin American graduates from the University of Chicago around the same period. These economists continued to shape the economies of their respective countries, and include people like Mexico's Francisco Gil Diaz, Fernando Sanchez Ugarte, Carlos Isoard y Viesca, Argentina's Ricardo Lopez Murphy, and many more from countries like Brazil, Uruguay, and Costa Rica. The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. Francisco Gil Díaz (b 2 September 1943 in Mexico City) is a Mexican Economist who serves in the board of corporate directors of For a topic outline on this subject see List of basic Argentina topics. Ricardo Hipólito López Murphy ( Adrogué, BA, 10 August, 1951) is an Argentine economist and politician |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld Uruguay.(official full name in República Oriental del Uruguay;, Oriental Republic of Uruguay) is a country located in the southeastern part of South America Costa Rica, officially the Republic of Costa Rica ( Spanish: Costa Rica or República de Costa Rica,) is a Country in

At least one former academic of the University has stated that the main advantage Chile had when compared to other Latin American countries was not the presence of the Chicago Boys, but rather the large number of them and the coherence of their policy making. Other military regimes of the seventies, such as the Ernesto Geisel presidency in Brazil, followed a radically different economic orientation, based upon the idea of overcoming underdevelopement through heavy government spending and centralized planning. Ernesto Beckmann Geisel, pron. eʁ'nɛstu 'bɛkmɐ͂ 'gajzew ( August 3, 1907 - September 12, 1996) was a Brazilian

References

  1. ^ >(Spanish) VILLAROEL, Gilberto. La herencia de los "Chicago boys". Santiago do Chile: BBC Mundo.com - América Latina, 10/12/2006.

Bibliography

See also

External links

The " Miracle of Chile " is a term coined by Milton Friedman to describe the Augusto Pinochet 's support for liberal economic reforms in Chile The Berkeley Mafia was term given to a group of US -educated Indonesian economists whose efforts brought Indonesia back from dire economic conditions and The Shock Doctrine The Rise of Disaster Capitalism is a 2007 Book by Canadian Journalist Naomi Klein. Dollars & Sense is a Magazine dedicated to providing Left-wing perspectives on Economics.
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