A recent study revealed that while the middle class has increased, 1 percent of the population in Chile holds 25 percent of the wealth generated in the country. U ntil recently the promise of economic stability, poverty reduction, expansion of consumption and growth of the middle class had given many a reason to feel optimistic. And yet inequality remains a legacy the country can’t seem to shake. Mr. Piñera campaigned on the promise that “better times are coming,” but he is facing an economic slowdown and the World Bank has lowered growth expectations for this year and next. The illusion of permanent growth has been ripped apart and that rupture is fueling the fire of disappointment that has erupted in the last week.

In the years after the dictatorship ended in the 1990s, Chile had experienced an optimistic era of democratization and modernization that reduced poverty from 30 percent to 6.4 percent in 17 years. Left- and right-wing presidents have alternated in recent decades, but new generations remain mistrustful of those in power, demanding greater equality and a broader and more inclusive social welfare system, as well as reforms to the pension system — which until now has been tied to the individual’s career path and capacity for savings — and to the health care and education systems.

The generation born into a democratic Chile that are now demanding change are children of the discontent that the expansion of the middle class, and with it consumption, kept at bay. The crowds of demonstrators are not guided by parties or visible movements, and they lack a clear set of objectives. They are more united by a common abhorrence of inequality, and their agenda, with a focus on issues such as greater diversity and better protection of the environment, directly clashes with that of their predecessors, those who lead the country.

On Oct. 22, Mr. Piñera appeared before the press and announced a series of social reforms, among them immediate improvement of pensions, subsidies for medicines, the creation of a guaranteed minimum income, aimed at diffusing the protests.

Will these social programs solve the crisis and put out the fervor? It’s a promising agenda, but it’s insufficient in the long term. Chile is experiencing social unrest, but also a cultural and political crisis. Mr. Piñera must promote a more peaceful and effective dialogue without sacrificing the democratic process. This is the first step toward healing the wounds of inequality.