Question

In 1900 Chile’s income per capita was $1,950, which made it the second richest country in Latin America, after Argentina. Saul Bolaño, a reputed historian, explains Chile’s relative success on the fact that its elite class was “disciplined, progressive, and industrious” (Yeager, 1991). Imagine a journalist covering Latin America asks you for your opinion, as an expert on Latin American development, about Bolaño’s theory. What would you tell the journalist? ​

Answer 1

Chile has the highest degree of economic freedom in South America (ranking 7th worldwide), owing to its independent and efficient judicial system and prudent public finance management.

The Chilean economy partially degenerated into a system protecting the interests of a ruling oligarchy. By the 1920s, the emerging middle and working classes were powerful enough to elect a reformist president, Arturo Alessandri, whose program was frustrated by a conservative congress. In the 1920s, Marxist groups with strong popular support arose.^[27]

A military coup led by General Luis Altamirano in 1924 set off a period of political instability that lasted until 1932. Of the ten governments that held power in that period, the longest lasting was that of General Carlos Ibáñez del Campo, who briefly held power in 1925 and then again between 1927 and 1931 in what was a de facto dictatorship (although not really comparable in harshness or corruption to the type of military dictatorship that has often bedeviled the rest of Latin America).^[31][32]

By relinquishing power to a democratically elected successor, Ibáñez del Campo retained the respect of a large enough segment of the population to remain a viable politician for more than thirty years, in spite of the vague and shifting nature of his ideology. When constitutional rule was restored in 1932, a strong middle-class party, the Radicals, emerged. It became the key force in coalition governments for the next 20 years. During the period of Radical Party dominance (1932–52), the state increased its role in the economy. In 1952, voters returned Ibáñez del Campo to office for another six years. Jorge Alessandri succeeded Ibáñez del Campo in 1958, bringing Chilean conservatism back into power democratically for another term.

The 1964 presidential election of Christian Democrat Eduardo Frei Montalva by an absolute majority initiated a period of major reform. Under the slogan "Revolution in Liberty", the Frei administration embarked on far-reaching social and economic programs, particularly in education, housing, and agrarian reform, including rural unionization of agricultural workers. By 1967, however, Frei encountered increasing opposition from leftists, who charged that his reforms were inadequate, and from conservatives, who found them excessive. At the end of his term, Frei had not fully achieved his party's ambitious goals.

The main reason of chile's success was their devotion towards work , dedication and setting of industries.