Milton Friedman: Knowledge,

Public Culture, and Market Economy

in the Chile of Pinochet

Luis E. Crcamo-Huechante

No quiero dejarles con falsos conceptos o con equvocos: no se

lograr ponerle fin a la inflacin sin pagar costo alguno, pero
continuar con una inflacin tiene tambin altos costos. En el
hecho, Chile es un pas muy enfermo y un enfermo no puede
esperar recuperarse sin costo.

I do not want to leave you with any false impressions or

ambiguities: there is no way to end inflation without some cost,
but continuing with inflation will also have high costs. The fact
is, Chile is a very sick country, and the sick cannot expect to
recover without cost.
Milton Friedman, Santiago, 1975

Economist Milton Friedmans March 26, 1975, lecture

in Santiago, Chile, constituted a pivotal moment in the symbolic transforma-
tion experienced by Chilean society during the years of the Pinochet regime.

Many thanks to Brad Epps, June Erlick, Jos Falconi, Joseph Florez, Catalina Ocampo, and Shirin
Shenassa for the generous sharing of their time and intellect. I would also like to thank Silvia Alvarez-
Curbelo, John Coatsworth, Fernando Coronil, Sebastin Edwards, and Mara Clemencia Ramrez de
Jara for reading parts of my work and for bibliographic and terminological suggestions. An earlier
version of this paper was published in Spanish as El discurso de Friedman: mercado, universidad y
ajuste cultural en Chile in Revista de Crtica Cultural 23 (November 2001).
All translations within the essay are mine.

Public Culture 18:2 doi 10.1215/08992363-2006-010

Copyright 2006 by Duke University Press 413
Public Culture Although organized by the School of Management and Economics at the Uni-
versidad Tcnica del Estado (State Technical University) in Santiago, the lecture
actually took place at the Diego Portales building, which served as the military
juntas headquarters during its first years of government. Friedmans speech was
published some months later under the emblematic title Chile y su despegue
econmico (Chile and Its Economic Take-Off).1 It was an event during which
certain symbolic components of state culture became detached from their his-
torical frames of reference, thereby laying the groundwork for a market-centered
matrix within Chilean societythat is, a market culture.2 This abandonment of
the state planning model of previous decades and the shift toward a free-market
economy in Chile were historically coupled with the violent military coup led by
General Augusto Pinochet on September 11, 1973, against the socialist govern-
ment of Salvador Allende. This political event dramatically interrupted the coun-
trys democratic life by instituting a dictatorship that would last nearly twenty
years. The Chile that Friedman visited in 1975 was a country ruled by the heavy
hand of military authoritarianism, which had imposed political repression and
severe restrictions on free speech: hundreds of people were in prison or concen-
tration camps, were subject to torture, or were obliged to seek asylum in foreign
territories.3
Set against this scenario, Professor Friedmans visit to Chile marked a crucial
turning point for the countrys economy: at the time, the military junta was trying
to decide between continuing the old state-centered economic model or shifting
toward a free-market economy. Friedman was certainly not an activist, but at this

1. In the course of my investigation, I was not able to find a tape of Friedmans live speech (most
likely presented in translation from English to Spanish); therefore I have based my work on the tran-
script of the speech (published in Spanish in Friedmans 1975 Chile y su despegue econmico).
2. By market-centered matrix, I mean a socioeconomic philosophy or perspective like the one
proposed by Milton Friedman, wherein the logic of the market economy constitutes the axis of all
social interactions. Referring to the power of the market, Milton and Rose Friedman wrote in Free
to Choose, Adam Smiths flash of genius was his recognition that the prices that emerged from
voluntary transactions between buyers and sellersin short, from a free marketcould coordinate
the activity of millions of people, each seeking his own interest, in such a way as to make everyone
better off (Friedman and Friedman 1990: 13).
3. During 1991, in the new context of democracy, the National Commission for Truth and Rec-
onciliation (an entity created in April 1990 and also known as the Rettig Commission) examined
2,920 deaths as a result of human rights violations and political violence under the military regime
in Chile. In August 1996, the successor of this commission, the National Corporation for Compensa-
tion and Reconciliation, confirmed 899 cases in addition to those documented by the Rettig Com-
mission, bringing the total number of dead and disappeared victims to 3,197 (Roniger and Sznajder
1999: 2628).

414
juncture he performed the role of adviser in a highly publicized fashion. His visit Friedman and
had major consequences for the economic life of the country. His various activi- Pinochets Chile
ties in Santiago, including a face-to-face meeting with General Pinochet, tipped
the balance in favor of a structural adjustment to the economy much more drastic
than the military regime had previously been willing to risk. In essence, a shock
treatment. This facilitated the victory within the regime of advisers who favored
economic liberalization.4
The lecture in Santiago by the prominent University of Chicago economist
heralded the symbolic dislocation of categories that were critical to state culture,
such as the notion of a national economy, the concept of a welfare state, and the
idea of the university. His speech, as both discourse and performance, reframed
these iconic images within new configurations of knowledge and culture.5 Fried-
mans presentation not only described (and endorsed) the structural adjustment
purportedly entailed by the transition to a free-market society, it staged what I
will refer to as a cultural adjustment within the symbolic universe of Chilean
society. Simply put, economic discourse, in this scenario, functioned as a cultural
discourse in which economists played the role of active producers and dissemi-
nators of meaning.6 In this sense, I want to illuminate the cultural dimension of

4. According to historians Simon Collier and William Sater, in April 1975, after hearing the
arguments and counterarguments of economists at a weekend conference at Cerro Castillo, Pino-
chet threw caution to the wind, coming down decisively in favor of the Chicago Boys, conferring
extraordinary powers on his finance minister Jorge Cauas, and appointing Sergio Castro as minister
of economy. All were strongly convinced that market relations had to be imposed throughout soci-
ety and entrepreneurial culture had to replace habitual dependence on the state (Collier and Sater
1990: 36566).
5. Methodologically, the category of discourse allows me to privilege the role of language in
the domain of political economy. Although my use of the concept of discourse is undoubtedly bor-
rowed from Foucaults The Archaeology of Knowledge (1972), this does not necessarily imply an
endorsement of Foucaults tendency to reduce every aspect of social life to a discursive operation.
The notion of performance is used here to emphasize the productive role of language in social and
historical events, as well as the inherent theatrical aspects of such moments as the 1975 Friedman
lecture. In this respect, performance can be defined as an activity which generates transformation
(Sayre 1995: 91104).
6. Writing from within the hegemonic tradition of neoclassical economics, Deirdre McCloskey
states, Science requires more resources of the language than raw sense data and first-order predi-
cate logic (1998: 19). Moreover, economics . . . can be seen as an instance of literary culture. That
it can also be seen as an instance of scientific culture is no contradiction. It shows merely how the
official rhetoric of science narrows the field, demanding that it honor the one and spurn the other
(McCloskey 1998: 34). Even though McCloskey has her own stake in promoting the ideology of
market capitalism, the rhetorical, yet analytical perspective she offers helps to complicate the essen-
tialist claims of her colleagues in Chile who regard the free-market economy as something purely

415
Public Culture Friedmans visit in Chile, reading it as a performance that exceeded the language
of economic advice and staged a cultural turn in society.

Dislocated Traditions

Friedman and the Chilean technocrats of the mid-1970s maintained an explicit

distance from the Platonic guardians of the university as an ivory tower. They
would in no way invest themselves in the symbolic and administrative mainte-
nance, let alone the restoration, of the old academic order of knowledge. This atti-
tude was made evident in Friedmans opening remarks on March 26, 1975. Csar
Seplveda, speaking on behalf of one of the events sponsors (Banco Hipotecario
de Chile), introduced Friedman by way of Platonic philosophy, calling him a
man in whom real wisdom stands out, the kind that Plato demanded from the
leaders of his utopian State (Friedman 1975: 7). In an apparently unrehearsed
response to Seplvedas words, Friedman attempted to distance himself from
the Platonic vision of the ivory tower scholar by delineating a radically different
approach:
Muchas gracias por tan generosa y esplndida introduccin. Sin embargo,
debo confesar que me siento un tanto incmodo con toda alusin que se
haga a la Filosofa de Platn, puesto que en una sociedad libre no hay un
lugar para el tipo de lite filosfica que Platn supone.

[Thank you very much for such a generous and splendid introduction.
I must confess, however, that I feel somewhat uncomfortable with any
allusion to Platos philosophy, for in a free society there is no place for the
type of philosophical elite that Plato envisioned.] (1975: 9)
Friedmans neoliberal ideology clearly set out to displace Seplvedas attach-
ment to Platonic thought, a philosophical current deeply embedded in Chiles tra-
ditional intellectual circles. To illustrate his notion of a free society (a somewhat
paradoxical term given Chiles authoritarian regime), Friedman insisted on the
difference between his opinions and those of the philosophical elites in Western
societies. Friedmans vision of knowledge and of the market society would be
spread widely throughout Chilean public culture, both through his own interven-
tion and through that of his local followers, namely, the Chicago Boys.7 For this

factual. McCloskeys work shows how even these neoconservative approaches are symbolically and
linguistically constructed.
7. The Chicago Boys was a nickname coined by Chiles local media to describe those who were
trained in the doctrine of monetarism at the University of Chicago (Meller 1984; Stepan 1985; Valds

416
influential circle of economists, la ciencia econmica, or economic science, con- Friedman and
sisted of technical expertise coupled with the lived experience of citizens partici- Pinochets Chile
pating in the marketplace. In general terms, then, the opening lines of Friedmans
lecture were more philosophical and cultural than economic, yet they also sug-
gested that academic and intellectual production needed to be conceptualized as
part of a market society. In fact, Friedmans insistence on the symbiosis between
economic science and market logic could be read as an attempt to establish the
bases of productive linkages between academic inquiry, governmental decision
making, and economic policy. Such a vision obviously debunked the venerable
old idea that knowledge resided, metaphysically, in the high spheres of the spirit.
Friedmans confessed discomfort with Seplvedas Platonic reference should
be situated within the uneasy relationship between economic liberalism and the
philosophical legacy of Plato. One might recall Karl Poppers ferocious critique
of Plato in The Open Society and Its Enemies (1971), a study that served as a
master reference for late-twentieth-century liberal economists. Popper was most
critical of The Republic, in which the Greek thinker portrays Socrates as the ideal
philosopher and opposes him to all those who do not practice the art of reason-
ing with sufficient seriousness. True philosophers, according to Plato, are those
who have a deeper commitment to philosophical thinking and who therefore are
capable of grasping what is always the same and unchanging (Plato 2003: 186;
Republic, 484a485c).8 It was against this transcendental definition of knowledge
and the intellectual quest that Karl Popper reacted.9 For him, Platos wise men,
highly preoccupied with the problems of a superior world, have no time to look
down at the affairs of men (Popper 1971: 146). In Chile during the mid-1970s,
certain prevalent views about the university and intellectual production were still
informed by Platos argument that essential knowledge exists on a plane above

1989; Dlano and Traslavia 1989). According to Alfred Stepan, in the particular case of Chile, the
Chicago School of Economics was most influential in 197378 and later, between 1979 and 1981,
the Virginia school of political economy (Buchanan, Tullock, and to a lesser extent Brunner) had
the most impact (1985: 323).
8. In The Economy of Literature (1978), Marc Shell develops an analysis of the way in which the
Socrates of Platos Republic deals with this tension between the realm of ideas and the role of money,
the terrain of intellectual activity and that of economy, the status of philosophy and the economic
tyranny. Shell notes a clear discomfort about money and economic activity in the idealistic world of
Plato, a fear of the invasion of money into the terrain of thought. On the other hand, however, Shell
also finds an implicit acknowledgment in Plato of the role of economic matters in citizens lives.
9. An extensive reply to Poppers anti-Platonism can be found in Ronald Levinsons In Defense
of Plato. This book, published in 1953, still helps to tease out the Popperian view on Platonic society
and the role of the philosophers.

417
Public Culture contingent reality. Moreover, within the Chilean university system reform debates
of the late 1960s, the Platonic model was elaborated by presenting the university
as an ivory towerthat is to say, as a Platonic space withdrawn from the eco-
nomic, social, and historic events of the everyday.
The economic adjustments introduced by the military and their technocratic
allies through hard-line monetarist policies were not only experienced at the
economic level but also, quite profoundly, within a broader cultural domain. For
example, during the 1970s and 1980s the Pinochet authoritarian regime imple-
mented a university policy that involved closing or drastically downsizing a vast
number of philosophy departments and other nonproductive humanities pro-
grams throughout the country. The paradigmatic shift in the economic realm,
with its correlate in the academic sphere, can be traced through the discursive
discontinuities in the staging of Friedmans lecture. One could read the stark con-
trast between the words of Seplveda (Friedmans presenter, who spoke from a
position of traditional Platonic academicism) and the opening words of Friedman
himself (who presented knowledge as a component of market society) as a sign of
cultural adjustment: the shock staged by Friedman in his discursive confronta-
tion with Seplveda in some way announced, and perhaps even embodied, the
shock therapy that was to follow in the economic realm.10

The Free Market

Friedman, of course, is one of the major architects of the so-called free-market

economy, which implies a radical deregulation of economic activity, an end to
state-run enterprises, and the liberalization of the market. As such, Friedmans
lecture in Santiago had a privileged audience comprised of prominent members
of the countrys technocratic, entrepreneurial, and military elite.11 The underlying

10. In his speech, Friedman suggests: It would be very beneficial for Chile to look at some
examples in which shock therapy was applied to the inflation and disorganization problem (1975:
12; emphasis added).
11. Friedmans position must be understood in terms of a complex ideological transference
(Valds 1989) related to the long-established relationship between the School of Economics at the
University of Chicago and the Chilean economists linked to the Economics Program at the Catholic
University of Chile. According to sociologist Cecilia Montero, the coming of the Chicago ideas to
Chile did not happen randomly, but was part of an academic exchange dating back to 1957 when
an agreement was first drawn up between the University of Chicago, the Catholic University, and
the Administration for International Cooperation. In that year alone, twenty-six Chilean economists
were invited to study at the Chicago campus. During the first years of the interinstitutional contract,
Arnold Harberger figured most prominently as a supporter of this academic exchange.

418
purpose of his visit was to promote and strengthen the position of Chilean econo- Friedman and
mists who openly favored the market reforms set out by Friedman and others Pinochets Chile
who shared his economic philosophy. Both his visit and his lecture were aimed at
laying out a roadmap for Chilean neomodernization, whose fundamental prereq-
uisite would be the establishment of a much more efficient, viable, and stronger
capital market, and whose primary objective would necessarily be putting an
end to inflation (Friedman 1975: 11). According to the Chicago economist, this
plan required a drastic reduction in fiscal spending, access to foreign loans, and
free-floating interest rates in accordance with the market. The entire process, as
Friedman himself pointed out, would lead to a market model that would encom-
pass all of Chilean society:
Una economa de mercado es aquella que elimina las barreras aduaneras
y las restricciones y permite que cualquier ciudadano del pas compre
donde crea que puede comprar ms barato y que produzca bienes que
pueda vender en el exterior al precio ms conveniente; en sntesis, lo que
se necesita para un desarrollo vigoroso en Chile es el fortalecimiento
del sector privado mediante la eliminacin de los obstculos y de los
subsidios.

[A market economy is one that eliminates tariff barriers and restrictions,

one that allows any citizen of the country to buy cheaper goods wherever
he believes they are cheaper, and produce goods to be sold abroad at the
highest possible price; in sum, in order to achieve vigorous development
in Chile, it is necessary to strengthen the private sector by eliminating
obstacles and subsidies.] (Friedman 1975: 15)
At the center of Friedmans lecture was a notion of an open economy driven
by the logic of a transnational market, a notion that stood in sharp contrast to the
existing paradigm of the estado benefactor (welfare state), which was based on a
state-centered and inwardly oriented economy. This paradigm, which had taken
root in Chile and other parts of Latin America in the post-1930 period, stemmed
from a multiclass political arrangement whose consensual strategy for develop-
ment followed the import-substituting industrialization model (ISI), a model that
gave the state a central role in the economy.12 However, in the neomoderniza-

12. The notion of estado de compromiso accurately describes this multiclass dynamic of the wel-
fare state in Latin America, a dimension that implies a settlement among competing sectors whereby
each sector agrees to make concessions. For a critical and rigorous overview of the rise, evolution,
and problems of this model, see Hirschmann 1969.

419
Public Culture tion advocated by Friedman, the private sector would displace the state as the
economys axis; it would be the activating and founding force of the new capital
market.13 Friedmans performance in Santiago, therefore, was a sort of discursive
milestone in the formulation of a new economic orientation for Chile and for
Latin America in general, signaling the regions departure from the era of import-
substituting industrialization and state planning and pointing the way toward the
future of the free market.14
Since my primary focus in this essay is cultural, I will not explore the many
economic, political, and social implications of Friedmans view, implications that
continue to be debated by a vast and still growing body of literature from Latin
American economics, political science, and social studies. Instead, I am inter-
ested in the cultural and symbolic inflections of the event itself, beginning with
the fact that Friedmans presentation, which announced the dismantling of the
state-centered model, occurred under the auspices of an institution whose very
name was a symbolic referent of the state: Universidad Tcnica del Estado (State
Technical University). In order to fully comprehend the symbolic charge of the
State Technical University, we need to revisit the paradigm known as the welfare
state.

Territories, Signs, Images

State-centered economies clearly prevailed throughout Latin America between

the 1930s and the 1970s. These years were marked by promises of development
and change, as import-substitution industrialization models began to take effect.
By the 1950s, these models were linked to regional government initiatives that

13. In the humanities and social sciences, neoliberalism has become the term most often used
to categorize this new process of market reform. The term is sometimes used as a descriptive, ana-
lytical concept; other times, it bears negative connotations. In either case, it tends to privilege one
of the many ideologiessuch as hard-line monetarismt hat have informed policy making since
the crisis of the import-substituting industrialization model. In Chile, as elsewhere, this process of
market reform is not ideologically homogenous; its proponents can range from Pinochets right-wing
economists to the policy makers aligned with the Christian Democrat Party or to the Socialist Party
in the post-1990 democratic period. I prefer to use the notion of neomodernization to historically
situate this process as part of a broader ideological scenario and the long-term history of modern-
izing projects in Chile and Latin America.
14. For a socioeconomic analysis of this process, see Cecilia Monteros La revolucin empre-
sarial chilena (1997); Martnez and Dazs Chile: The Great Transformation (1996); or Hctor Scha-
miss Re-Forming the State: The Politics of Privatization in Latin America and Europe (2001, chaps.
2 and 3). Of particular interest in terms of a cultural critique is Martin Hopenhayns Ni apocalpticos
ni integrados, especially the section titled Crisis de legitimidad en el Estado Planificador (1994:
180239).

420
combined domestic industrialization, state protectionism, and democratic reforms Friedman and
in an effort to realize the goal of national development. In the process, the state Pinochets Chile
played a central role as planner, regulator, and entrepreneur. In Chiles case, the
various political administrations of the midtwentieth centuryAlessandrismo,
the Popular Front, the Christian Democrat project of a revolution in liberty, and
Allendes Chilean road to socialismall attempted to develop the model of the
inwardly oriented economy, albeit in accordance with very different sociopoliti-
cal platforms.15 To borrow a phrase from political scientist Marcelo Cavarozzi,
the state-centric matrix, hegemonic from the 1930s to the 1970s, was the fun-
damental base of the welfare state in its Latin American incarnation (Cavaro-
zzi 1994). Based on its strategic decision-making power, its practices of social
paternalism, the strength of its bureaucratic and administrative networks, and
its close alliance with the letrados (intellectual elite), the welfare state became
an emblematic figure within the social and cultural imagery of Chile and other
Latin American nations (Caldern and Dos Santos 1995, Cavarozzi 1994, and
Hopenhayn 1994).
In light of this history, it is strikingly paradoxical that Milton Friedmans lec-
ture took place under the auspices of an institutionthe State Technical Univer
sitythat was considered an icon of state culture, particularly during the admin-
istrations of Eduardo Frei Montalva (196470) and Salvador Allende (197073).16
Enrique Kirberg, president of the State Technical University between 1969 and
1973, described the institution as a cutting-edge entity working to guarantee access
to higher education for the lower classes. In this sense, the university embodied
a central tenet within the project of the welfare state. In an address given to an
international academic audience in 1981, Kirberg offered the following reflection
on the identity and mission of the State Technical University:

15. Within this era of industrialization and populism, the period of Alessandrismo refers pri-
marily to the administrations of Arturo Alessandri Palma (193238) and his son Jorge Alessandri
Rodrguez (195864), both supported by right-wing political forces. The governments of the Popular
Front, a center-left political coalition, appeared from the late 1930s to the early 1950s and included
the administrations of Pedro Aguirre Cerda and Gabriel Gonzlez Videla. The Christian Democrat
project of a revolution in liberty, a centrist movement, achieved its political articulation in the
government of Eduardo Frei Montalva (196470), whose political base was the Christian Democrat
Party. Finally, the Chilean road to socialism refers to the Popular Unity government of Salva-
dor Allende (197073), which was supported by left-wing political forces (Collier and Sater 1990:
235358).
16. The State Technical University was founded in 1947 during the government of Gabriel Gon-
zalez Videla, with a strong focus on training students for the industrial sector. The State Technical
University was renamed Universidad de Santiago de Chile during the period of the military regime,
with a curricular and administrative reorientation toward business and management.

421
Public Culture We were a university of some 20,000 students. . . . We felt we had to do
something for the rest of the country. So we started what we called sea-
sonal courses in several parts of the country, lasting two or three weeks
and covering every area of studygeneral economics, literature, car
mechanics, music, and pottery. We taught mathematics to parents of chil-
dren learning modern mathematics; we even taught mothers how to make
clothes for children. There was great enthusiasm for those courses and we
reached about 52,000 adult students during the last year of the program.
The university also had a chain of radio broadcasting stations throughout
the country, with special programs on science courses and selected music.
We stimulated the formation of art ensembles, theatres, and choruses. At
the NTU [National Technical University] we had 16 choruses because, as
we said, a person who sings cant be a bad person. We also published
books and magazines and made films. (Kirberg 1981b: 14)17
It should be noted here that the Enlightenment tradition, so influential in Chile
and Latin America, established close links between the modern university and
the nation-state. Both the Kantian notion of reason and Wilhelm von Humboldts
idea of culture, two of the Enlightenments guiding principles, were powerfully
connected to the ideal of a national-cultural mission (Readings 1996: 115).
Kirbergs text certainly placed great importance on the tropes of country and
culture. In his speech, the we of the academic communityhere, the State
Technical Universitytakes on a tone characteristic of the great educator, a
figure culturally critical to the populist rhetoric of the Latin American welfare
state. At the same time, Kirbergs view of the state-based university appears to be
deeply committed to a notion of culture similar to the classic Humboldtian ideal.
To Kirberg and other proponents of the national popular university, culture still
meant the universalism of disciplinary knowledge and the popularization of fine
arts.
The example of the radio station of the State Technical University can offer
important insight into the socializing states educational and cultural ethos. The
station was not open to interactive audience participation; instead, its program-
ming format was determined by preestablished norms about what constituted the
right kind of knowledge, that is, a familiarity with so-called high culture (clas-
sical music in particular) and up-to-date information on the scientific and tech-

17. Kirberg translated Universidad Tcnica del Estado as National Technical University. The
difference in my translation, State Technical University, reflects my interest in maintaining the origi-
nal emphasis (in Spanish) on the state affiliation of this institution. Because Kirbergs speech was
originally published in English, I cite it verbatim.

422
nological advances of modernity. The State Technical University radio station Friedman and
saw itself, in other words, as an educator, promoter, and disseminator of high Pinochets Chile
knowledge. The radio stations design certainly rendered the states populist proj-
ect remarkably modern, because it subjected its own national popular ideology
to a more hierarchical and discipline-centered configuration of knowledge and
culture. As Chilean philosopher Willy Thayer keenly notes, the generalization
of the Enlightenment is one of the dogmas that the modern State emphatically
reiterates (1996: 157).
This modernizing matrix, so characteristic of the Latin American populist
state, acquired a marked class component from 1969 to 1973. In May 1969, the
State Technical University signed an agreement with the Central Unitaria de Tra-
bajadores (Workers Central Union) and passed a series of measures to help the
working class gain access to higher education (Kirberg 1981a: 15). In doing so,
the state university became the concrete bastion of a state that saw itself as the
great educator of the popular masses. The university/state had not substantially
altered its commitment to Enlightenment rationality ( la Kant) and culture (
la Humboldt); rather, these ideals were rearticulated as key components of its
national popular perspective. Specifically, the rationale (razn) of state solidarity
and the culture of socialism became tied to national tasks of developing internal
industrialization and promoting class mobility in an effort to strengthen support
for the industrializing model. Along these same lines, both the State Technical
University in Santiago and the Federico Santa Mara University in the city of
Valparaso focused their curricula on engineering and on the scientific and tech-
nological skills needed to develop the mining and metallurgical industries. Ulti-
mately, for the welfare state and its industrialization project, the public university
served as a socializing agent, closely linked with the construction of society and
culture through its national mission.18
This historical backdrop allows one to more fully appreciate the symbolic
importance of the fact that Friedmans lecture was organized and sponsored by
the School of Management and Economics at the State Technical University. The
lecture took place only two years after the abrupt and violent end of the social-
izing states most radical experiment: Salvador Allendes government (197073).
Accordingly, a number of questions come to the fore: Why was Friedmans lecture
staged under the auspices of a university so intensely linked to that state-centered

18. Article 2 of the Organic Statute of the State Technical University, signed by Salvador
Allende and approved by the Chilean Parliament, states: The State Technical University must dedi-
cate itself to the study, discussion, and solution of national issues, as a way of contributing to the
conquest of total and full independence for the country (Kirberg 1981a: 439).

423
Public Culture matrix? To what extent is it possible to argue that the new market-centered matrix
strategically depended, in its very articulation, on the referential guarantees that
the old culture of the welfare state could provide?
The actual setting for the Friedman lecture was not the State Technical Uni-
versity campus, but the Diego Portales building, the military juntas headquarters
at that time. This displacement is telling: the military regime seemed eager to
appropriate the name of what had been the most popular university during Salva-
dor Allendes administration. The State Technical University had been strongly
identified with the Popular Unity government led by Allende. During this period,
its former rector, Enrique Kirberg, was elected with the unanimous support of the
Popular Unity party. After the coup, the State Technical University campus was
violently invaded by the military. In September 1973, dozens of students, faculty,
and staff members were taken to a detention center (the Chile Stadium), and many
of them remained political prisoners, were forced into exile, were assassinated,
or disappeared. The use of the State Technical Universitys name to sponsor an
official event of the junta and its technocrats thus constituted an act of symbolic
appropriation that staged the powerlessness of the defeated. The State Techni-
cal University, which sponsored and later published Friedmans lecture, began
to function as a dislocated identity, a brand name subordinated to the language
of marketing. In this sense, the university no longer embodied in any substantive
way the transcendental ideas of reason and culture; instead, it was now subjected
to the circulation characteristic of deterritorialized images.19 Even though the dis-
placement can be understood within the traditional outreach programs developed
by the Chilean universities, it is clear that in this case, the name of the State Tech-
nical University was highly manipulated and appropriated by proponents of the
new economic model. The identity of the university was changed in such a way as
to mirror the constant motion of commodities.
The way in which Friedmans presentation was arranged in Chile not only sug-
gested ways to reframe a traditionally popular institution but also foreshadowed
the great transformation of Chilean higher education in the 1980s: the emergence
of a market logic in the administration of academic entities. This emerging phe-

19. For Jameson, the abstraction of finance capital happens through the deterritorialization of
signs. In the age of abstract capital, deterritorialization implies a new ontological and free-floating
state, one in which the content (to revert to Hegelian language) has definitely been suppressed in
favour of the form, in which the inherent nature of the product becomes insignificant, a mere mar-
keting pretext, while the goal of production no longer lies in any specific market, any specific set of
consumers or social and individual needs, but rather in its transformation into that element which by
definition has no content or territory . . . namely money (Jameson 1998: 153).

424
nomenon forged a powerful linklargely irrelevant in Chile until thenbetween Friedman and
higher education, private property, and market logic, especially strengthened by Pinochets Chile
the birth of private institutions of higher education (Brunner 1992). From that
moment on, a singular market of public and private universities came into exis-
tence, displayed as a series of brands and images. With the advent of the private
university, advertising was taken for granted in Chilean higher education. One is
reminded here of cultural critic Andrew Wernicks theory of the shifting status of
academic institutions during (and after) Margaret Thatchers regime in England
and that of Ronald Reagan in the United States. The university was more and
more assimilated to the modalities of the market, and became deeply implicated
in the promotional dynamic which always accompanies competitive exchange
(Wernick 1991: 157). Wernicks concept of the promotional university gains
currency in Pinochets Chile, where the university, advertising culture, and the
market established a syntagmatic relationship.20 The new private universities in
Chile made their way into the multiple advertising spaces of Greater Santiago
and of the country at large, appearing on the commercial pages of newspapers
and magazines, on television screens, and on the huge billboards ostentatiously
displayed to nurture the circulation of supply and demand that would reshape late-
twentieth-century Chilean urban space.
In much the same way, Friedmans performance in Chile registered the dra-
matic dissociation of the name State Technical University from its territory,
illustrating the symbolic economy of exchange and displacement characteristic
of market culture and prefigured by the staging of the lecture itself. The logic
of mobility was clear from the first lines of Friedmans presentation, A market
economy is one that eliminates tariff barriers and restrictions, one that allows
any citizen of the country to buy [goods] wherever he believes they are cheaper
(1975: 15). These lines suggest an entire subtext about the displacement of com-
modities in an open economy. The free-market era established a new process
of intense cultural and economic deterritorialization.21 To achieve this stage, a

20. According to Daniel Chandler, a syntagm is an orderly combination of interacting signi-

fiers, which forms a meaningful whole (sometimes called a chain) and syntagmatic relations are
the various ways in which constituent units within the same text may be structurally related to each
other. What is at stake, especially for syntagmatic analysis, is the surface structure of a text and
the relationships between its parts (2002: 244). In this sense, the university, advertising culture, and
the market in contemporary Chile share the same surface structure, the very modality of function-
ing as a meaningful whole.
21. Contrary to this, the notion of territory was critical to the culture of the welfare state: the
street, the school, the soccer field, the barber-shop at the corner, and many other spaces of leisure-
time, consumption, and work, became entities for the social reproduction of populist sociability
(Caldern and Dos Santos 1995: 29).

425
Public Culture violent shock in Chilean society had to occur around, and indeed at the cost of, an
icon of the old territorial culture: the State Technical University.

The New Economy of Knowledge

Friedman and the Chicago Boys also inscribed a new economy of knowledge onto
the culture of 1970s Chile. By the end of the twentieth century, Chilean society
was predominantly shaped by the action of economists, or los tcnicos. It was no
longer a society governed by statesmen invested in the great narrative of emanci-
pation. In the past, the enlightened intellectual, emblematic of the Latin American
welfare state, manifested a firm commitment to national popular projects, a com-
mitment proper to the lettered culture that considered itself at the service of the
people. On the opposite end of the intellectual spectrum resided the ivory tower
academic that strove to defend the autonomy of academia from the populist waves
of the 1960s.22 Both of these figures of knowledge production were highlighted
during the contentious and virulent debates on university reform that took place
under the Frei and Allende administrations. However, whether social redeemers
or defenders of the values of the elevated spirit, intellectuals were always under-
stood to have a certain transcendence in society.
The advent of the technocracy advocated by the Chicago Boys marked a clear
separation from both of these earlier constructs. The techno generation did not
define knowledge or the university from an Enlightenment-inspired perspective
of transcendence; the Chicago Boys framework of economic science suggested a
more practical configuration of knowledge. Hence, the primacy of the economic
as opposed to the social, political, or ideologicalgrounded the epistemology
of this emergent elite. At its most extreme, this radical commitment to the estab-
lishment of a technocratic culture implied the cultivation and cult of technical
competence. Paradoxically, however, the articulation of this privileged techni-

22. As a philosopher and prominent figure in the university system reform debates in Chile in the
1960s, Jorge Millass speeches and lectures were published in a collection as De la tarea intelectual
in 1974. Millas emphatically insisted on the university ideal of autonomy in the face of the politi-
cal and social unrest of 1960s Chile. After becoming a member of the Chilean Academy of Language
in 1962, Millas titled his speech Plato: The Political Mission of the Intellect, thus establishing
his ideal view of intellectual labor (see Millas 1974: 2760). In another 1962 event, the Fourth
Writers Meeting at Chiles University of Concepcin, Millas responded to Carlos Fuentesat the
time a passionate defender of the engaged intellectualby calling for a return to the discipline
of intelligence and the quest for knowledge (1974: 74) and warning against what he saw as the
dangers of ideological servitude (79). Such views actually convinced Millas, by the late 1970s, to
withdraw his political support of the military regimes university project and to reinvest energies in
his earlier defense of the university ideal of academic autonomy.

426
cal knowledge generated a new discourse that reconfigured social and cultural Friedman and
values. In the end, the economists played a role that transcended the technical Pinochets Chile
realm, thus transforming themselves into cultural agents as they became actively
involved in the public arena. One sign of this phenomenon was Friedmans fre-
quent appearance in television interviews during his visit to Chile, which fell in
line with attempts by contemporary economists to establish a true pulpit for
the dissemination of their free-market views through the use of the mass media
(Brunner 1984: 342).23
One might say that in mid-1970s Chile, economists positioned themselves as
both the disseminators of economic knowledge and the producers of the political
and cultural valorization of that knowledge, establishing a privileged place for it
in the domain of public culture. The highly qualified tcnico became dominant in
the Chilean symbolic universe under the military regime and remained so until
well into the return of democracy in the 1990s. Throughout the aforementioned
displacement, however, a new paradox emerged. By disavowing the specter of
Plato and identifying technical knowledge with daily cultural dynamicsthose
of the people and everyday lifethe economists discourse retained an impor-
tant element of the former populism. In this sense, one can speak of a transition
from the populism of the intellectual as a redeemer under the industrializing,
developmental state to the neopopulism of the market technocrat whose principal
archetype was constituted through the image of the Chicago Boys in Chile.
The new figure of the tcnico did not have to resort to a transcendent discourse
to authorize himself. Instead, the tcnico exercised the technocratic discourse
of macroeconomics while simultaneously constructing himself as a public sub-
ject through marketing. Friedman and the Chicago Boys materialized this shift
in discursive authorization through their own conversion into another brand on
the market: the cachet of being a University of Chicago economist. These new
subjects of knowledge, in other words, functioned as the product of the uneven
academic and institutional transactions between the United States and Chile.
The cultural logic of exchange and profit was implicit in the lectures opening
paragraphs, in which Friedman mentioned the 1955 agreement between the Uni-
versity of Chicago and the Catholic University of Chile, which allowed econom-
ics students from the Chilean institution to study in Chicago, while University of
Chicago professors collaborated with the Economics Department of the Catholic

23. In his book Entrevistas, discursos, identidades, Jos Joaqun Brunner demonstrates jour-
nalisms central role in the dissemination of economic discourse in Chiles public culture since the
mid-1970s (1984).

427
Public Culture University (Friedman 1975: 9). What is particularly noticeable in this dynamic of
knowledge exchange is that the agreement seemed to be mediated by a cultural
asymmetry between North and South, wherein the North (Chicago) was invested
with the authority of professor, while the South (Santiago and Chile) was implic-
itly associated with the position of student. Similarly, in the closing paragraphs
of his lecture, Friedman reiterated his hierarchical view on North-South relations
by resorting to the physician-patient metaphor; he thereby reinvested his own
discursive location with the power and prestige of the medical community while
representing and subordinating an entire country as an anomalous, biologically
and psychologically impaired patient in need of shock therapy:
No quiero dejarles con falsos conceptos o con equvocos: no se lograr
ponerle fin a la inflacin sin pagar costo alguno, pero continuar con una
inflacin tiene tambin altos costos. En el hecho, Chile es un pas muy
enfermo y un enfermo no puede esperar recuperarse sin costo.

[I do not want to leave you with any false impressions or ambiguities:

there is no way to end inflation without some cost, but continuing with
inflation also will have high costs. The fact is, Chile is a sick country, and
the sick cannot expect to recover without cost.] (1975: 16)
These lines indicate how, in the last quarter of the twentieth century, the tech-
nical discourse on inflation was reinforced through a metaphor typical of the nine-
teenth century. In The Birth of the Clinic (1975), Michel Foucault noted that the
medical metaphor was a recurrent trope in the nineteenth century sciences of life.
According to Foucault, the scientific concepts of the period were arranged in a
space whose profound structure responded to the healthy/morbid opposition; this
logic was transferred from biology to psychology, grounding the medical bipo-
larity of the normal and the pathological (1975: 35). Literary scholar Michael
Aronna has argued that these same taxonomies were repeatedly reiterated in a
number of philosophical, social, political, and economic treatises of the fin de
sicle. The rhetoric of mental and physical health and disease was employed, fur-
thermore, to make sense of so-called underdevelopment in Spain (as a peripheral
part of Europe) and, subsequently, in Latin America. In general, these nations
were considered too sick, immature, un-evolved, and feminine to possess the
rational and moral qualities necessary for national progress (Aronna 1999: 21).24

24. The implications and trajectories of this vision are widely analyzed by Michael Aronna in
Pueblos Enfermos: The Discourse of Illness in the Turn-of-the-Century Spanish and Latin Ameri-
can Essay (1999).

428
Through recourse to a similar trope, Friedman signaled the pathological state of Friedman and
a peripheral capitalist society (sick country) and obsessively insisted on the Pinochets Chile
corrective and curative attributes of scientific modernization. From Friedmans
vantage point of economic science, a disciplinary approach was needed to combat
the disturbances or seeming chaos of a society like Chile. Friedmans perfor-
mance was, in this sense, ultimately ironic: in the era of the so-called free market,
the geopolitics of dominant intellectual production and knowledge still depended
upon a symbolic cartography in which North-South relations were delineated in
terms of hierarchy and domination (center-periphery, above-below, and, in the
final instance, of normalizing sciencepueblo enfermo [sick people]).25
Friedmans performance also revealed the asymmetrical dynamics of exchange
in the new political economy of knowledge. It embodied the geocultural position
of an academic voice symbolically and authoritatively speaking from the North,
from the podium of an adviser.26 The image of the free market, then, was erased
in the very act of its enunciation. Friedmans lecture was unable to transcend
the grammar of North-South exchanges that were genealogically and historically
inscribed within the dense symbolic economy of dependency.27 The linkage of the
North with the figure of the professor/doctor and thus with normalizing science
(the epistemic privilege of the center), taken in conjunction with the placement of
the South in the minor role of the student and the sick (the ontological immaturity
and anomaly of the periphery), revealed the pervasiveness of asymmetrical rela-
tions in the geocultural production and distribution of knowledge. Such asymme-
try suggested a new paradox within the symbolic plotting of the so-called open
economy and its supposedly radical liberalization.
In the face of this paradox, Friedman made repeated, if ultimately futile,
attempts to distance himself from the dependency paradigm that continued to
haunt the North-South economy of knowledge, even in late-twentieth-century
globalization. Friedmans concern with veiling his location of authority was
apparent, both in his opening complaint about being presented in Platonic terms

25. It is important to call attention here to the ubiquity of the health-illness logic in the political
economy discourses of twentieth-century Latin America. George Ydice highlights the fact that
dependency theory and anti-imperialism ultimately hark back to appeals to the purity and health
of the authentic nation in the face of foreign cultural contamination (1998: 357). In the era of free-
market economy, this conflation of economic and medical discourse takes a new shape, as reflected
in Friedmans speech: the reiteration of this logic reveals a long-term clinico-disciplinary anxiety
in the economic field.
26. On the category of geoculture, see Wallerstein 1991.
27. On the notion of dependency, see Cardoso and Faletto 1969.

429
Public Culture as a man of real wisdom, and a few moments later in his appeal to the rhetorical
expedient of modesty: To be totally honest, I must say that I only arrived in Chile
one week ago and this is my first visit to Chile; therefore, I cannot claim to qualify
as an expert (Friedman 1975: 9). Even twenty-five years later, in an interview
given to the Chilean newspaper La tercera, Friedman was still combating the
specter of his place of enunciation:
No me siento bien cuando me etiquetan como el padre del modelo
econmico chileno. Yo no lo fui. Nadie es el padre de este modelo. Lo que
se hizo en Chile fue simplemente aplicar los principios de la economa
a las circunstancias especiales que viva este pas. Quienes merecen el
crdito en esto son los Chicago Boys que crearon un programa econmico
y lo hicieron funcionar. Debo enfatizar que mi rol y el de quienes
pertenecamos a la Universidad de Chicago fue totalmente econmico.

[I feel uneasy when I am labeled the father of the Chilean economic

model. I was not. No one is the father of this model. What was done in
Chile was simply to apply the principles of economics to the special
circumstances experienced by this country. Those who deserve credit for
this are the Chicago Boys, who created an economic program and made
it work. I must emphasize that my role and that of all of us who belonged
to the University of Chicago was totally economic.] (Lagos 2000: 12;
emphasis added)
What Friedmans statement made explicit was that the principles of econom-
ics and the authority of economic knowledge (i.e., theory) were envisioned as
belonging to the geocultural space of the United States, while Latin America was
simply considered a domain of applicability. Paradoxically, even as Friedman
attempted to distance himself from the podium of authority, he ended up reiterat-
ing an asymmetrical politics of knowledge. As a result, he undermined the very
idea that the free market had a liberalizing impulse. Instead, he established a
taxonomy of knowledge in which the epistemology of principles gets articulated
from the North, while the ontological sphere of experience (the domain of appli-
cability) remains in the South.28
It is certainly true that after 1973 the U.S. academy began to assume a more
prominent role in the training of Chilean academics and policymakers. This shift

28. Of great relevance to the formulation of my argument here are cultural critic Nelly Richards
elaborations on the center-periphery question as it relates to the domain of theory and knowledge
production/circulation. See Richard 1989.

430
would reshape the previous cartography of exchanges and intersections between Friedman and
Chile and the metropolitan centers (traditionally France, Germany, and Spain). Pinochets Chile
The 1975 Friedman lecture registered the emergence of an academic and cul-
tural market that would trigger new variants in the production, circulation, and
consumption of knowledge along the axes of North-South economy and symbol-
ogy. In the words of cultural critic Nstor Garca Canclini, the Latino-European
passage to a North American destiny has modified not only Latin American
societies, but also the social sciences, the arts, and the references of author-
ity and prestige in mass culture (1995: 17). The change has been apparent in
a wide spectrum of disciplinary and ideological venues in Chilean intellectual
life, driven by economists and policymakers from all political backgrounds as
well as by the new discourses of cultural critique, cultural studies, feminism, and
postcolonialism. Because of its hybridity and flux, this new market of knowledge
did not preclude but instead opened up the possibility of contesting the symbolic
economies of multinational and transnational capital.
The Friedman phenomenon in Chile definitively established a close connection
between knowledge and the market, or, in a broader sense, between the cultural
and the economic. His speech enacted this juxtaposition through its particular
reference to the agreement between the University of Chicago and the Catholic
University of Chile:
La presencia de jvenes tan capacitados y brillantes signific para
nosotros un valioso aporte intelectual que nos benefici apreciablemente.
Espero que Chile tambin se haya beneficiado. Como creyente de la coop-
eracin voluntaria, estimo que ningn intercambio es plenamente satisfac-
torio a menos que ambas partes se beneficien.

[The presence of such qualified and brilliant young people was a valuable
intellectual contribution, from which we benefited considerably. I hope
Chile has also benefited from this. As a believer in voluntary cooperation,
I do not consider any exchange fully satisfactory unless both parts derive
some benefit from it.] (Friedman 1975: 9; emphasis added)
Through his use of such terms as exchange and benefit, Friedman established a
symbiosis between the economic and the cultural, between academic inquiry and
business transactions. This link, the basis of market culture, has been intensified
in postadjustment Chile. Knowledge has ended up as a component of the capital
market; it is exported, imported, and negotiated, thoroughly dependent upon the
logic of exchange, benefit, loss, and profit. Culture has lost its validation as the

431
Public Culture window onto the spirit or Subject; instead, its legitimacy stems from its func-
tioning as an input for a product that has nothing transcendent about it, or even
any profound content; a product which is, however, made legitimate by the utility
it is able to draw from the input (Hopenhayn 1994: 110).
Understood in this way, Friedmans 1975 performance in Chile anticipated
the relocation of academic knowledge and intellectual production to the mar-
ket. General Pinochet and his bloody coup were left behind in the economic and
political memory of mainstream Chilean culture. The history of free-market
economy has become that of its glamorous present, and less that of its violent
origin. Nowadays, it is the culture of everyday life in Chile. The structural adjust-
ment of the mid-1970s, under an authoritarian regime, has to be rethought, then,
through economics, politics, and culture as interrelated domains. In this context,
Friedmans speech was more than economic advising; it performed a pivotal sym-
bolic momentnamely, a turn to the cultural life of the free market for a whole
social body.

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