In seven pages the Chilean economy is existed in terms of the governments of Allenda and Pinochet and the democratic regime currently in place with future outlook examined. Four sources are cited in the bibliography.
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in so much of South America, Chiles economy has been uncertain for decades. Less certain at some times than at others, the country has made a consistent and concerted
effort to build a sustainable export-driven economy since the first days of the North American Free Trade Agreement (NAFTA). The Clinton administration was
worried about South American double-digit inflation, and insisted that Chile bring its economy in line with more accepted ratios of national debt, increase in gross domestic product (GDP) and other
overall economic measures. Today, Chiles economy is well on its way to being reclassified as mature. The Allende Government
Salvado Allende won 37 percent of the popular vote in 1970 on promises to nationalize everything important to the operation of the economy. He
set out to fulfill his promises immediately after the election, which gave him the distinction of being the first popularly-elected Marxist in a non-communist country in the western hemisphere.
The resulting socialist economic system operated in the same manner as any Eastern Bloc nation of Eastern Europe. Allende action included redistributing income, raising wages and controlling prices.
The economic system in reality served no one at all, but superficially at least best served Chiles poor families through greater income and stable
prices. The middle class fared slightly worse, for wages were set according to jobs performed rather than on former class membership. Of families ability to cope with the
economic changes, the (formerly) wealthy family was less fortunate. Land reform took away much of their holdings, and redistribution of income took their wealth away from them.