Editing Chicago Boys (section)

==Key Members of the Chicago Boys==
Below is a list of prominent Chicago Boys who shaped Chile’s economy under Pinochet, based on their roles in government, academia, and private sectors:

Sergio de Castro Spikula (1930–)  
Education: Master’s and Ph.D. in economics, University of Chicago (1957–1960).  

Roles: Minister of Economy (1974–1976), Minister of Finance (1976–1982).  

Contributions: As Pinochet’s chief economic architect, de Castro implemented “El Ladrillo”, overseeing privatization of state enterprises (e.g., banks, utilities), trade liberalization (reducing tariffs from 94% to 10%), and monetary policies to curb hyperinflation (1,000% in 1973). His “shock therapy” stabilized the economy but caused a 1975 recession, with 20% unemployment.  

Legacy: De Castro’s policies laid the foundation for Chile’s market-driven growth, but critics, including Letelier, argued they enriched elites while impoverishing workers.

José Piñera Echenique (1948–)  

Education: Ph.D. in economics, Harvard University (1974), but influenced by Chicago School mentors via Catholic University.  

Roles: Minister of Labor and Social Security (1978–1980), Minister of Mining (1980–1981).  

Contributions: Piñera designed Chile’s privatized pension system (1981), replacing state-run pensions with individual accounts managed by private firms (AFPs). He also deregulated labor markets, weakening unions impoverishing the Chilean workers, and privatized mining assets.  

Legacy: The pension system became a global model but faced criticism for low returns and high fees, exacerbating inequality, as Letelier noted in his 1976 Nation article. The pension funds were primarily a tool of the US corporations.

Miguel Kast Rist (1948–1983) 
 
Education: Master’s in economics, University of Chicago (1970–1971).  

Roles: Minister of Labor (1978–1980), Minister of Planning (1980–1982), President of the Central Bank (1982–1983).  

Contributions: Kast spearheaded labor reforms, reducing union power, and implemented targeted social programs to mitigate neoliberal reforms’ social costs. His planning ministry prioritized fiscal discipline and poverty alleviation through market mechanisms. The 'labor reforms' ensured no strikes against the US corporations running the mining in Chile and keep wages low so their profits were high. 

Legacy: Kast’s early death at 34 cut short his influence, but his reforms shaped Chile’s social policy framework, criticized for prioritizing efficiency over equity.

Sergio Fernández Fernández (1939–)  

Education: Law degree, University of Chile, but trained in Chicago School economics via Catholic University.  

Roles: Minister of the Interior (1978–1982, 1987–1988), advisor to Pinochet’s economic team.  

Contributions: As a political operative, Fernández ensured Chicago Boys’ policies aligned with Pinochet’s authoritarian governance, suppressing dissent to implement reforms.  

Legacy: His role bridged economic and political repression, enabling neoliberalism’s enforcement under dictatorship.

Cristián Larroulet Vignau (1953–) 
 
Education: Master’s in economics, University of Chicago (1977–1978).  

Roles: Advisor to the Ministry of Economy (1970s–1980s), later Minister of the Presidency (2010–2014) under Sebastián Piñera.  

Contributions: Larroulet contributed to privatization and deregulation policies, particularly in education and healthcare, shaping long-term neoliberal structures.  

Legacy: His influence extended into Chile’s democratic era, reinforcing Chicago School principles.

Jorge Cauas Lama (1934–)  

Education: Master’s in economics, Columbia University, but aligned with Chicago School via Catholic University.  

Roles: Minister of Finance (1974–1976).  

Contributions: Cauas initiated austerity measures to curb inflation, slashing public spending and devaluing the peso, which triggered economic contraction but stabilized prices by 1976.  

Legacy: His policies laid groundwork for de Castro’s reforms, though their social costs fueled Letelier’s critiques.

Pablo Baraona Urrutia (1935–) 
 
Education: Master’s in economics, University of Chicago (1960s).  

Roles: Minister of Economy (1976–1978), President of the Central Bank (1981–1982).  

Contributions: Baraona advanced trade liberalization and banking privatization, strengthening Chile’s export-driven economy.  

Legacy: His reforms boosted growth but deepened inequality, as noted by Letelier.

Other notable Chicago Boys included Juan Carlos Méndez, Ernesto Fontaine, Alvaro Bardón, and Rolf Lüders, who held roles in finance, planning, and academia, reinforcing neoliberal policies through think tanks and universities.