Karen Salvador
Chicago Boys Summary
• The Chicago boys started off as university students from Chile that were sent to the
University of Chicago to learn about economics from a neoclassical perspective and gain
knowledge to help teach/reform economics in Chile.
• Once they arrived they learned economics from famous professors that taught at the
university and spent their time getting to know each other and helping each other out with
studying for their economics classes.
• They spent the rest of their time there learning with the promise to go and teach
economics at a university in Chile for at least two years.
• When they returned back to Chile to teach they quickly realized that what they were
teaching was not coming across correctly to the students and many of them could not
comprehend and understand what they were trying to teach.
• When the presidential election for Chile results were announced many of the Chicago
boys left the country and went to work in the US (primarily in Washington) because they
