Neoliberalism sealed its grip in the 1980s under the Pinochet regime, once the Left had been radically weakened. Contrary to the widely accepted theory of neoliberalism, the Chilean model is based on a regulated and state-dependent form of capital accumulation; its highly concentrated economy rests principally on extractive industries, along with lower value-added sectors like services.

This system has promoted an obscene concentration of wealth (today, the richest 1 percent Chileans take roughly 33 percent of income, according to the World Bank). Inequality is soaring, and middle-class Chileans have been hit hard, pushing them to join in on the protests; they can be seen banging on pots and pans alongside the residents of Chile’s informal slums. In fact, except for the most elite quarters, virtually all of Chilean society is out protesting.