In the meantime, the military junta in Brazil, which took power in 1964, had invited Friedman in 1973 down for advice, which it took for awhile. What Baker is missing in his rent story is an explanation of where the rents come from. Contrary to the prevailing post-WWII belief that political liberty was dependent on some form of mild social leveling, he insisted that “economic freedom is an essential requisite for political freedom.” More than his monetarist theorems, this equation of “capitalism and freedom” was his greatest contribution to the rehabilitation of conservatism in the 1970s. .

Read more-Greg Grandin After the executions, a young, Cuba-influenced generation of revolutionaries dismissed such a position as not only naive but suicidal.Government repression destroyed alliances between reforming elites and popular classes, broke down powerful collective movements into individual survival strategies, and extracted leaders from their communities. Buying and selling are overloaded activities: trading partners not only may be and are of several different minds about transactions; they are also often uncertain as to what exactly such transactions “mean” in terms of their own and others’ wealth and property, the effects on their well-being, who or what subject positions they occupy, and what exactly is being traded.Consider, for example, market exchanges for turkeys, sweaters, and apartments. Accordingly, the Junta justified its terror as needed not only to prevent Chile from turning into a Stalinist gulag but to sweep away fifty years of tariffs, subsidies, capital controls, labor legislation, and social welfare provisions — a “half century of errors,” according to finance minister Sergio De Castro, that was leading Chile down its own road to serfdom.“To us, it was a revolution,” said government economist Miguel Kast, an Opus Dei member and follower of both Hayek and American Enterprise Institute theologian Michael Novak. Finally, he gave Bob Cratchit the greatest Christmas gift of all: a pay rise.And then there’s the American Enterprise Institute’s Markets generate wealth on a vast scale, which, used properly, enables the Christian life: It is much easier to live the Christian virtues and to meet our obligations to family and community when we aren’t worried about finding our next meal or freezing to death on a cold winter night.

Some say that the protesters were peaceful and that soldiers stationed in the square opened fire in order to eliminate the leaders of the land movement.
Friedman gave a series of lectures and met with Pinochet for 45 minutes, where the general “indicated very little indeed about his own or the government’s feeling.” Although he noted that the dictator, responsible for the torture of tens of thousands of Chileans, seemed “sympathetically attracted to the idea of a shock treatment.”Friedman returned home to a firestorm of protest, aggravated by his celebrity as a Newsweek columnist and ongoing revelations about Washington’s and corporate America’s involvement in the overthrow of Allende.


a course that would lead to coercion rather than freedom.” The Pinochet regime, he argued, represented a turning point in a protracted campaign, a tearing off of democracy’s false husks to reach true freedom’s inner core.

A severe recession and skyrocketing unemployment followed. It slashed import tariffs, freed prices on over 2000 products, and removed restrictions against foreign investments. “My personal preference,” he told a Chilean interviewer, “leans toward a liberal dictatorship rather than toward a democratic government devoid of liberalism.” In a letter to the London Times he defended the junta, reporting that he had “not been able to find a single person even in much maligned Chile who did not agree that personal freedom was much greater under Pinochet than it had been under Allende.” Of course, the thousands executed and tens of thousands tortured by Pinochet’s regime weren’t talking.Hayek’s University of Chicago colleague Milton Friedman got the grief, but it was Hayek who served as the true inspiration for Chile’s capitalist crusaders. After decades of bloody revolutions and political terror, many scholars and politicians lament the rise and brief influence of the left in Latin America; since the triumph of Castro they have accused the left there of rejecting democracy, embracing Communist totalitarianism, and prompting both revolutionary violence and a right-wing backlash.


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