Episode 905: The Chicago Boys, Part I

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This is the first part in our series on Marxism and capitalism in Chile. You can find the second episode here.

Planet Money #905: The Chicago Boys, Part I The Chicago Boys, Part I Listen · 24:27 24:27

Chile is one of the wealthiest, most stable economies in South America. But to understand how Chile got here--how it became the envy of neighboring countries --you have to know the story of a group of Chilean students who came to study economics at the University of Chicago. A group that came to be known as the Chicago Boys.

In the 1960s, their country was embracing socialism. But the Chicago Boys would take the economic ideas they had learned at Chicago and turn them into policies in Chile. They ended up on the front lines of a bloody battle between Marxism and capitalism, democracy and dictatorship.

Music: "Mystery Inc," "Don't Cry To Me" and "Spinning Piano."

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