An Overview of the Economic History of Chile Since the 1800’s
Special Focus on the Economic History of Procedural Democracy and Civil Society
By
Markos J. Mamalakis
University of Wisconsin – Milwaukee
Copyright April 2006
To be published in _EH.Net Encyclopedia_, edited by Robert Whaples,
http://eh.net/encyclopedia/.
0
Table of Contents
INTRODUCTION.............................................................................................................................................................................................. 10
OVERVIEW ...................................................................................................................................................................................................... 11
PART I ............................................................................................................................................................................................................... 14
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817) ...................15
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823 ....................................18
PRESIDENCIES, DICTATORSHIPS, GOVERNMENTS OF RAMÓN FREIRE AND OTHERS, 1823
1831 ..........................................................................................................................................................21
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841 ...................................24
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851 ......................................................27
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861 ........................................................30
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871 ...............................................33
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876 ...............................................36
PRESIDENCY OF ANÍBAL PINTO, 1876-1881 ...................................................................................39
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886 ...............................................................42
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891 ...................................................................45
PRESIDENCY OF JORGE MONTT, 1891-1896 ...................................................................................48
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901 ..........................................51
PRESIDENCY OF GERMÁN RIESCO, 1901-1906 ..............................................................................54
PRESIDENCY OF PEDRO MONTT, 1906-1910 ..................................................................................57
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915 ...................................................................60
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920 ................................................................63
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924 .....................................................66
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927 .............69
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931 ..72
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932 .............75
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938 ....................................79
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941 ................................................................82
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946 .......................................................................86
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952 .......................................................90
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958 .......................................................94
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964 ................................................98
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970 .......................................................102
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973 ...................................................................107
1
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE,
1973-1990 ..............................................................................................................................................113
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994 .......................................................120
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000 .......................................................124
2
Table of Tables
1.
2.
3.
4.
5.
6.
7.
8.
9.
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
15
Table: 1.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 1.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 1.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
15
16
17
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
18
Table: 2.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 2.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 2.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
18
19
20
PRESIDENCIES, DICTATORSHIPS, GOVERNMENTS OF RAMÓN FREIRE AND OTHERS, 1823 1831
21
Table: 3.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 3.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 3.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
21
22
23
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
24
Table: 4.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 4.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 4.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
24
25
26
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
27
Table: 5.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 5.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 5.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
27
28
29
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
30
Table: 6.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 6.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 6.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
30
31
32
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
33
Table: 7.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 7.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 7.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
33
34
35
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
36
Table: 8.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 8.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 8.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
36
37
38
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
39
Table: 9.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 9.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 9.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
39
40
41
10. PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
42
Table: 10.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 10.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 10.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
11. PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
42
43
44
45
Table: 11.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 11.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 11.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
3
45
46
47
12. PRESIDENCY OF JORGE MONTT, 1891-1896
48
Table: 12.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 12.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 12.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
13. PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Table: 13.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 13.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 13.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
14. PRESIDENCY OF GERMÁN RIESCO, 1901-1906
48
49
50
51
51
52
53
54
Table: 14.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 14.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 14.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
15. PRESIDENCY OF PEDRO MONTT, 1906-1910
54
55
56
57
Table: 15.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 15.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 15.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
16. PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
57
58
59
60
Table: 16.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 16.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 16.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
17. PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
60
61
62
63
Table: 17.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 17.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 17.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
18. PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
63
64
65
66
Table: 18.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 18.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 18.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
19. PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Table: 19.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 19.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 19.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
20. PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Table: 20.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 20.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 20.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
21. PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Table: 21.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 21.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 21.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
22. SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Table: 22.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 22.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 22.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
23. PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
66
67
68
69
69
70
71
72
72
73
74
75
75
76
77
79
79
80
81
82
Table: 23.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 23.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
4
82
83
Table: 23.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
84
24. PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
86
Table: 24.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 24.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 24.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
25. PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
87
88
89
90
Table: 25.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 25.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 25.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
26. PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
90
91
92
94
Table: 26.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 26.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 26.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
27. PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
94
95
96
98
Table: 27.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 27.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 27.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
28. PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
98
99
100
102
Table: 28.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 28.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 28.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
29. PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
103
104
105
106
Table: 29.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 29.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 29.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
30. TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE, 1973-1990
Table: 30.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 30.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 30.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
31. PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
107
109
111
113
114
115
117
120
Table: 31.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 31.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 31.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
32. PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
120
121
122
124
Table: 32.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Table: 32.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Table: 32.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
Part II
Part III
Part IV
Part V
124
125
126
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???
???
???
5
Table of Graphs
1.
2.
3.
4.
5.
6.
7.
8.
9.
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
15
Graph: 1.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 1.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 1.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
15
16
17
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
18
Graph: 2.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 2.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 2.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
18
19
20
PRESIDENCIES, DICTATORSHIPS, GOVERNMENTS OF RAMÓN FREIRE AND OTHERS, 1823 1831
21
Graph: 3.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 3.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 3.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
21
22
23
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
24
Graph: 4.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 4.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 4.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
24
25
26
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
27
Graph: 5.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 5.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 5.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
27
28
29
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
30
Graph: 6.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 6.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 6.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
30
31
32
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
33
Graph: 7.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 7.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 7.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
33
34
35
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
36
Graph: 8.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 8.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 8.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
36
37
38
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
39
Graph: 9.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 9.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 9.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
39
40
41
10. PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
42
Graph: 10.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 10.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 10.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
11. PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
42
43
44
45
Graph: 11.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 11.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 11.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
6
45
46
47
12. PRESIDENCY OF JORGE MONTT, 1891-1896
48
Graph: 12.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 12.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 12.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
13. PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Graph: 13.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 13.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 13.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
14. PRESIDENCY OF GERMÁN RIESCO, 1901-1906
48
49
50
51
51
52
53
54
Graph: 14.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 14.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 14.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
15. PRESIDENCY OF PEDRO MONTT, 1906-1910
54
55
56
57
Graph: 15.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 15.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 15.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
16. PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
57
58
59
60
Graph: 16.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 16.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 16.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
17. PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
60
61
62
63
Graph: 17.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 17.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 17.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
18. PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
63
64
65
66
Graph: 18.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 18.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 18.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
19. PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Graph: 19.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 19.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 19.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
20. PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Graph: 20.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 20.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 20.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
21. PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Graph: 21.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 21.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 21.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
22. SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Graph: 22.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 22.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 22.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
23. PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
66
67
68
69
69
70
71
72
72
73
74
75
75
76
77
79
79
80
81
82
Graph: 23.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 23.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
7
82
83
Graph: 23.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
84
24. PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
86
Graph: 24.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 24.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 24.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
25. PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
87
88
89
90
Graph: 25.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 25.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 25.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
26. PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
91
92
93
94
Graph: 26.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 26.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 26.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
27. PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
95
96
97
98
Graph: 27.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 27.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 27.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
28. PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
99
100
101
102
Graph: 28.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 28.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 28.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
29. PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
104
105
106
106
Graph: 29.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 29.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 29.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
30. TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE, 1973-1990
Graph: 30.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 30.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 30.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
31. PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
108
109
111
113
114
116
117
120
Graph: 31.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 31.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 31.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
32. PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
120
121
122
124
Graph: 32.1: Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Graph: 32.2: GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
Graph: 32.3: Expenditure on GDP (Billions of 1996 Chilean pesos)
8
124
125
126
Part II
Part III
Part IV
Part V
???
???
???
???
9
INTRODUCTION
Chile’s (the origin of its name may be the Aymarà word chilli which denotes “place where the
earth ends”) spectacular landscape (286,396 square miles of luscious valleys, glimmering glaciers,
scorched desserts, scenic fjords, forbidding as well as inviting olympian mountain ranges, polychromatic,
famed, lakes and endless pampas) borders Peru in the north with an area dominated by the immense
Atacama Desert, and is separated from Bolivia, on the northeast, and Argentina on the east, by the largely
snowcapped Andean Cordillera, the world’s second highest mountain after the Himalayas.
The historical territorial boundary of Chile’s economy and its collective market expands over time
and is subject of often monumental, structural transformations.
Although, according to archeologists, Chile experiences the arrival of the first humans during
13,000-10,000 B.C., and the Chinchorro culture emerges in coastal areas of the north in 2000 B.C.,
establishment of significant human settlements primarily dates to 500 A.D. During 600-1000 A.D., the
Tiahuanaco culture exerts significant influence on the inhabitants of northern Chile.
The historical origins of Chile’s economic, social and political structure and its collective market
are profoundly shaped by the Inca conquest of Indian communities north of the Rio Maule during 14701535. The Incas use their coercive state power to impose a labor tribute on the conquered tribes, including
gold mining. Collective markets are marked by social disharmony as freedom, dominance, creation of
income and accumulation of wealth by the Incas are gained at the expense of native Chilean Indian tribes
which are subjected to domination, exploitation and discrimination.
In order to better comprehend the historical interplay between geography and economy, including
collective markets, a brief introduction to its geographic regions is desirable.
From the west, the Pacific Ocean border, with its 2,653 mile coastline, makes Chile’s north-south
range the greatest inhabited one of any country in the world. The first of three, west to east, parallel belts,
is a low coastal range which rarely rises above 3,000 feet. A second belt is formed by the rich,
longitudinal Central Valley. The third belt is formed by the imposing central Andean chain, with twenty
peaks rising to 20,000 feet above sea level.
From north to south, Chile is composed of four geographic regions. The North, which is divided
into the Norte Grande (Great North) and the Norte Chico (Little North). The Center, or Valle Central
(Central Valley), which is first explored by Diego de Almagro during 1535-36. In 1541, Pedro de
Valdivia leads an expedition and founds Santiago, February 12, 1541. Mapuche Indians become a
permanent irrirant, destroying the city in September, which is rebuilt by Valdivia. The domain of the
10
Spanish Crown expands in the Central Valley as the government of Valdivia establishes, during 1550-53,
the towns of Concepción, Valdivia, Villarica, and Angol, and creates the forts of Arance, Tucapel, and
Purèn. Pedro de Valdivia is captured and executed in 1553 at Tucapel by Mapuche troops led by Lautaro.
In 1557, Lautaro is defeated and killed by Francisco de Villagra at Peteroa.
Migration and settlements by Europeans lead to land dispossession, expulsion and dislocation of
Mapuche and other indigenous peoples throughout Chile beginning in 1541.
OVERVIEW
1810-1999
The long term percentage rate of increase in gross internal product per capita during 1810-1995 is
1.4%. It is, however, only 1.06% during 1810-1878, but an impressive 2.95% during 1978-1995.
Furthermore, the percentage rate of increase of exports per capita is 2.33% during 1810-1995, 2.51%
during 1810-1878, a dismal -0.46% during 1938-1970, and an even worse -0.70% during 1946-1970. In
contrast, it rises to a phenomenal 6.59% during 1978-1995. In addition, the annual percentage rate of
inflation is 18.55% during 1810-1995, only 0.49% during 1810-1878, less than 6.0% during 1880-1929,
above 25% during 1938-1970, and below 5.0% since 2000. Moreover, of the eleven recessions or
depressions between 1833 and 1999, as measured by the percentage decline in gross internal product,
which is given in parentheses, seven occur during 1833-1929: 1861-1862 (-2.1%), 1876-1877 (-7.2%),
1883-1885 (-6.0%), 1896-1897 (-3.9%), 1899-1900 (-4.0%), 1914-1915 (-20.3%), and 1926-1927 (12.3%); one, and the worst, during 1930-1932 (-46.5%); only one, in 1964-1965 (-1.8%), between 1933
and 1971. And, finally, between 1972 and 1999, two strong ones, first during 1972-1975 (-23.3%), and
then, again, during 1982-1983 (-18.8%).
Why is the Chilean growth rate of per capita output only 1.4% during 1810-1995? Why is it below
the growth rate of such developed nations as the United States, England, and France? Why is Chile’s per
capita output growth rate uniformly low during both the 1833-1930 and the 1931-1973 periods? Why
does this growth rate reach historically unprecedented high levels during 1975-2006 and, especially, after
1990? Why is inflation minimal during 1810-1878, but accelerates during 1935-1974, and recedes in
recent years? What causes inflation and how does it affect output growth and the pursuit of good life?
Why do exports experience positive growth during 1810-1929, negative growth during 1938-1970, and a
phenomenal expansion after 1978? Why do most of the recessions-depressions occur before 1932, only
one during 1933-1970, and two since 1971?
11
The economic development of Chile, both before and after Independence, has been inexorably
linked to, as well as determined by, the degree of efficiency of its collective services markets. Any
attempt, therefore, to answer these questions requires a systematic examination and understanding of the
essence and existence of collective services markets. Collective services markets need to be examined
because they are the arena within which the moral collective services of safety, security, and protection of
life, safety, security, and protection of private property, freedom (political as well as economic), equal
treatment by government, social harmony and environmental protection are, or are not, produced.
Production of the collective service of political freedom determines the degree of satisfaction of the moral
collective need for political freedom, which is the foundational stone of procedural democracy.
Furthermore, production of the moral collective services of safety, security, and protection of life and
private property, economic freedom, equal treatment by government, social harmony, and environmental
protection, determines the degree of satisfaction of the corresponding moral collective needs which define
the essence of civil society. Furthermore, unless both procedural democracy (the groom) and civil society
(the bride) are strong and close enough, sustainable democracy and growth can not materialize.
It is the nature of collective services, which are produced within the collective markets, that
determines the efficiency of the markets producing individual (food, clothing, and shelter), semipublic
(education, health, and welfare), and collective (public administration and defense) composite
commodities, as well as agricultural, industrial (including construction, gas, water, and electricity) and
service (health, education, welfare, transportation and communication, ownership of dwellings, storage
and financial, business and government) value added components of these composite commodities. It also
determines the efficiency of markets where labor and property endowments and their respective factor
services are demanded and supplied, and factor incomes and endowments are created. They also shape the
behavior and participation of all institutional units (persons and legal or social entities, i.e. corporations,
non-profit institutions -NPI- and government units) and sectors (financial and non-financial corporations,
non-profit institutions serving households –NPISHS-, general government and households) in the
processes of production, distribution of income (primary distribution of income-generation of income and
allocation of primary income-, secondary distribution, redistribution in kind, quartic distribution of
collective consumption), use of income and accumulation.
A Chilean economic historiography can not be complete unless it examines, among other, the
unique evolution, including devolution, of the collective services markets. What is unique in Chile during
1800 and 2006 is the relationship between enlightened moral/immoral collective markets and other
12
enlightened moral/immoral markets leading to the satisfaction of final and “means” (to satisfy final)
needs. What is unique is, on the one hand, the constellation of moral/immoral, real, collective outputs
produced and collective needs satisfied, and, how this ever-changing constellation impacts upon, and/or,
is shaped by, the constellation of moral/immoral, real, non-collective, output-means produced and final
and “means” needs satisfied. Furthermore, what is also unique in Chile is the two-way relationship
between collective and other markets, on the one hand, and such prominent variables as output, income,
population, exports, imports, public revenues and expenditures, and institutional units and sectors, on the
other hand. The history of collective markets and the degree of satisfaction of (moral/immoral) collective
needs is inseparable from the history of all other markets and the degree of satisfaction of other
(moral/immoral) needs. These two economic histories reveal the central, complementary dimensions of
overall economic, social, political, and legal evolution of Chile.
A building has a bedroom, a living room, a kitchen, a bathroom; has doors, windows, plumbing,
heating, stairs, walls, floors and so forth. Each part of the building is subject of study by a specialist, or a
group of specialists. In addition to the “part” specialists, there also exist the “whole” structure-buildingedifice specialists, who are normally called generalists. They are the “polymathies” who have to know
each part of the building, how each part relates to all others, how the “life” of one part shapes the life of
all the other parts and of the “whole”. The same holds true of economists and economic historians. There
are “parts”-economists and economists-of-the-“whole”. An economic history of Chile requires a “whole”
analysis. It also must go beyond the “what is”, the “how” and “when” (the so-called positive economics)
and examine the “why” and the “what ought to be” (normative dimension). Examination of the collective
markets reveals the inseparability of “what is”, the positive aspects, and the “what ought to be”, normative
dimensions. The gap between actual, and desirable, recognition and satisfaction of collective needs
integrates the positive, “what is”, element, with the normative, “what ought to be”, dimension. Unless a
collective need, e.g. freedom, is satisfied, “what ought to be”, the consequentialist aspect, the freedom
necessary for development, does not exist, i.e. the procedural part, “what is”, will be missing. The
collective markets serve to answer the fundamental question of “why” Chilean development was
inadequate and “how” this situation can be remedied. They provide the strategic, explanatory, in general,
and economic history in particular, “lessons” of history.
National accounts statistics, including those of per capita income, which serve as indicators of
economic welfare and good life, do not take explicit account of collective markets, needs, and services,
due to lack of adequate, explanatory underlying theory. The neglect of collective markets, which are the
13
heart and brain of the economic organism and riddle, has prevented attainment of an adequate
understanding of key dynamics of historical processes. It has also been responsible for imperfect
recognition of fundamental causalities and interdependencies between markets, and defective, remedial
developmental strategies. The focus of the present historical overview of the Chilean economy on the
crucial role of collective markets aims to provide, at least in part, a fundamental missing piece of the
history of the economic development puzzle.
PART I
1800-1930
INDEPENDENCE AND INCORPORATION INTO THE GLOBAL ECONOMY
ASCENT AND RETREAT OF EMBRYONIC LIBERALISM.
CHILEAN COLLECTIVE MARKET EXCEPTIONALISM IN THE GRADUAL CREATION
OF PROCEDURAL DEMOCRACY AND CIVIL SOCIETY
SELECTIVE REPLACEMENT OF COLONIAL COMPONEMTS
OF COLLECTIVE MARKETS BY PATRIOTIC ONES
LOW PRODUCTIVITY AND INCOME GROWTH
14
1
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
Table: 1.1
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual rate of Growth (%)
1810
1811
0.4
0.9
4.3
1812
1813
0.4
0.4
-0.2
1.0
2.8
4.1
1814
1815
1816
1817
0.4
0.4
0.4
0.4
-0.2
0.3
1.1
0.7
2.3
2.5
3.0
2.3
Average
0.4
0.5
3.0
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph 1.1
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
-0.5
Real GDP Annual Rate of Growth
(%)
Real Aggregate Expenditure Annual
Rate of Growth (%)
1817
1816
1815
1814
1813
1812
1811
1810
Real Private Consumption and
Investment Annual Rate of Growth
(%)
Reference: Cap 2_0 Series: Sheet GA Real; [Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real
Private Consumption and Investment in Millions of 1996 Pesos. To be referred to henceforth as RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
15
Table: 1.2
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
1810
1811
1812
1813
1814
1815
1816
1817
Average
Agriculture
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
116.5
117.0
117.5
118.0
118.5
119.0
119.5
120.0
118.3
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-39
Source: Díaz- Lüders-Wagner (2005:28-39)
Graph 1.2
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
GDP by Sectors of Economic Activity
121.0
GDP
120.0
Agriculture
Mining
119.0
Manufacturing
118.0
Other Sectors
117.0
Government Services
116.0
Construction
115.0
Commerce
1817
1816
1815
1814
1813
1812
1811
1810
114.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by Sectors of Economic Activity. To be referred henceforth as
GDP by SEA in Millions of 1996 Pesos (Pp. 28-39)]
Source: Diaz-Lüders-Wagner (2005:28-39)
16
Services (Electricity, Gas and
Water)
Table: 1.3
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
Expenditure on GDP (Billions of 1996 Chilean pesos) : Private Consumption, Government Consumption, Gross Fixed Capital
Formation, Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
1810
1811
1812
1813
1814
1815
1816
1817
Average
Gross Fixed
Capital
Formation
(1)+(3)*
27.9
25.1
22.2
19.4
16.8
14.6
12.7
11.1
18.7
Exports
(4)
Imports
(5)
1.8
1.8
1.8
1.9
2.0
2.1
2.2
2.3
2.0
3.2
3.8
3.1
3.8
3.2
3.1
3.9
4.4
3.6
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph 1.3
1810-1817, PATRIA VIEJA (1810-1814) AND SPANISH RECONQUEST (1814-1817)
Expenditure on GDP (Billions of 1996 Chilean pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
Private Consumption (1)
30
Government Consumption (2)
25
Gross Fixed Capital Formation
(1)+(3)*
Exports (4)
20
15
Imports (5)
10
1+2+3+4-5
(6)
5
Real GDP (7)
1817
1816
1815
1814
1813
1812
1811
1810
0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIPReal; [Annual Expenditure on Gross Domestic Product: Private Consumption, Government
Consumption, Gross Fixed Capital Formation, Exports and Imports, in Millions of 1996 Pesos. To be referred to henceforth as AEGDP. (Pp.
121-125, 130)] Source: Diaz-Lüders-Wagner (2005:121-127)
17
2
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
Table: 2.1
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1817
0.4
0.7
2.3
1818
1.7
2.3
-1.8
1819
-2.1
-1.3
2.6
1820
2.1
3.4
1.4
1821
-2.2
-0.4
0.3
1822
2.9
3.2
-0.8
1823
1.9
-0.8
2.6
Average
0.7
1.0
0.9
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 2.1
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
4
Real Private Consumption and
Investment Annual Rate of
Growth (%)
3
2
1
Real Aggregate Expenditure
Annual Rate of Growth (%)
0
-1
-2
Real Aggregate Expenditure
Annual Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
18
1823
1822
1821
1820
1819
1818
1817
-3
Table: 2.2
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
1817
1818
1819
1820
1821
1822
1823
Average
Agriculture
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricit
y, Gas
and
Water)
120.0
122.1
119.5
122.1
119.4
122.8
125.1
121.6
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 2.2
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
GDP by Sectors of Economic Activity
126.0
GDP
125.0
Agriculture
124.0
Mining
123.0
122.0
Manufacturing
121.0
Other Sectors
120.0
Government Services
119.0
Construction
118.0
Commerce
117.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
19
1823
1822
1821
1820
1819
1818
1817
116.0
Services (Electricity, Gas and
Water)
Table: 2.3
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital
Formation, Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
11.1
2.3
4.4
15.9
2.3
5.2
11.6
2.3
6.2
14.3
2.4
7.9
13.3
2.1
9.8
18.4
1.8
10.2
14.4
2.1
7.0
14.1
2.2
7.2
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1817
1818
1819
1820
1821
1822
1823
Average
Graph: 2.3
PRESIDENCY (DICTATORSHP) OF BERNARDO O’HIGGINS, 1817-1823
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
20.0
Private Consumption (1)
18.0
Government Consumption (2)
16.0
Gross Fixed Capital Formation
(3)
Exports (4)
14.0
12.0
10.0
Imports (5)
8.0
6.0
1+2+3+4-5
4.0
Real GDP (7)
2.0
(6)
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
20
1823
1822
1821
1820
1819
1818
1817
0.0
3
PRESIDENCIES, DICTATORSHIPS, GOVERNMENTS OF RAMÓN FREIRE AND OTHERS,
1823 1831
Table: 3.1
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS, 1823-1831
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual
Rate of Growth (%)
1823
1824
1825
1826
1827
1828
1829
1830
1831
Average
1.9
-0.2
5.3
3.0
2.7
1.5
2.8
0.6
2.0
2.2
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment Annual Rate of
Growth (%)
-0.8
-0.5
4.5
3.7
2.5
1.5
2.6
-0.2
2.1
1.7
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
2.6
1.1
0.1
3.9
1.8
2.5
2.0
1.1
3.1
2.0
Graph: 3.1
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS,
1823-1831
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment,
1823-1831
6.00
Real GDP Annual Rate of Growth
(%)
5.00
4.00
3.00
Real Aggregate Expenditure
Annual Rate of Growth (%)
2.00
1.00
0.00
Real Private Consumption and
Investment Annual Rate of Growth
(%)
-1.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
21
1831
1830
1829
1828
1827
1826
1825
1824
1823
-2.00
Table: 3.2
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS, 1823-1831
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
1823
125.1
1824
124.9
1825
131.5
1826
135.6
1827
139.2
1828
141.3
1829
145.2
1830
146.1
1831
149.1
Average
128.8
Agriculture
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
|
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 3.2
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS,
1823-1831
GDP by Sectors of Economic Activity
160.0
GDP
140.0
Agriculture
120.0
Mining
100.0
Manufacturing
80.0
Other Sectors
Government Services
60.0
Construction
40.0
Commerce
20.0
Services (Electricity, Gas
and Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
22
1831
1830
1829
1828
1827
1826
1825
1824
1823
0.0
Table: 3.3
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS, 1823-1831
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
Private
Consumption
(1)
Government
Consumption
(2)
1823
1824
1825
1826
1827
1828
1829
1830
1831
Average
Gross Fixed
Capital
Formation
(3)
Exports
(4)
Imports
(5)
2.1
2.3
3.0
3.5
3.8
4.1
4.4
4.8
5.0
3.7
7.0
6.9
6.8
8.3
8.5
8.9
9.1
7.9
8.7
8.0
14.4
12.5
18.2
18.7
20.0
19.1
20.4
18.7
17.9
17.8
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 3.3
PRESIDENCIES, DICTATORSHIPS, GOVERNMENT OF RAMÓN FREIRE AND OTHERS,
1823-1831
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption,
Gross Fixed Capital Formation, Exports and Imports
25
Private Consumption (1)
Government Consumption (2)
20
Gross Fixed Capital Formation
(3)
Exports (4)
15
Imports (5)
10
1+2+3+4-5
(6)
Real GDP (7)
5
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
23
1831
1830
1829
1828
1827
1826
1825
1824
1823
0
4
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
Table: 4.1
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
2.0
2.1
3.5
3.6
1.7
2.7
4.3
4.1
4.3
4.8
1.3
0.3
4.4
5.5
2.4
1.2
2.1
2.1
7.2
6.9
2.1
2.9
3.2
3.3
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840
1841
Average
3.1
2.7
2.1
3.9
4.0
2.3
4.4
2.3
3.7
5.7
3.4
3.4
Graph: 4.1
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
.
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
8.00
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
Real GDP Annual Rate of Growth (%)
Real Aggregate Expenditure Annual
Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
24
1841
1840
1839
1838
1837
1836
1835
1834
1833
1832
1831
Real Private Consumption and
Investment Annual Rate of Growth (%)
Table: 4.2
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
GDP by Sectors of Economic Activity (Billions of 1996 Chilean pesos) Agriculture, Mining, Manufacturing, Other
GDP
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840
1841
Average
Agriculture
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
149.1
154.3
156.9
163.6
170.7
172.8
180.4
184.8
188.7
202.3
206.4
175.5
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 4.2
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
GDP by Sectors of Economic Activity
250.0
GDP
Agriculture
200.0
Mining
Manufacturing
150.0
Other Sectors
100.0
Government Services
Construction
50.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
25
1841
1840
1839
1838
1837
1836
1835
1834
1833
1832
1831
0.0
Services (Electricity, Gas and
Water)
Table: 4.3
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840
1841
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
17.9
5.0
8.7
19.8
5.5
9.5
21.2
5.2
10.9
22.3
5.7
11.4
24.5
6.1
12.8
21.5
6.2
11.3
24.5
6.0
13.8
22.8
6.8
12.0
20.7
7.2
12.5
24.2
9.0
14.2
24.1
8.8
15.9
22.1
6.5
12.1
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 4.3
TWO TERM PRESIDENCY OF JOSÉ JOAQUÍN PRIETO VIAL, 1831-1841
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
30
Private Consumption (1)
25
Government Consumption (2)
20
Gross Fixed Capital Formation
(3)
Exports (4)
15
Imports (5)
10
1+2+3+4-5
(6)
Real GDP (7)
5
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
26
1841
1840
1839
1838
1837
1836
1835
1834
1833
1832
1831
0
5
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Table: 5.1
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
1841
1842
1843
1844
1845
1846
1847
1848
1849
1850
1851
Average
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
2.1
2.9
3.0
3.9
3.8
4.7
2.2
2.5
3.7
2.1
4.1
5.2
2.8
2.4
4.8
3.8
7.8
8.6
5.8
5.2
3.4
7.3
4.0
4.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
3.4
4.0
3.1
1.9
1.6
6.4
2.6
2.1
9.2
4.8
6.4
4.1
Graph: 5.1
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
10.00
9.00
8.00
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
Real GDP Annual Rate of
Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
27
1851
1850
1849
1848
1847
1846
1845
1844
1843
1842
1841
Real Private Consumption and
Investment Annual Rate of
Growth (%)
Table: 5.2
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
1841
1842
1843
1844
1845
1846
1847
1848
1849
1850
1851
Average
Agriculture
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
206.4
212.7
220.8
225.6
234.0
243.6
250.6
262.6
283.2
299.7
310.0
249.9
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 5.2
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Sectors of Economic Activity
350.0
GDP
300.0
Agriculture
Mining
250.0
Manufacturing
200.0
Other Sectors
150.0
Government Services
100.0
Construction
50.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
28
1851
1850
1849
1848
1847
1846
1845
1844
1843
1842
1841
0.0
Services (Electricity, Gas and
Water)
Table: 5.3
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1841
1842
1843
1844
1845
1846
1847
1848
1849
1850
1851
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7%
(8)
24.1
8.8
15.8
24.9
9.1
18.2
29.1
8.9
20.2
31.0
8.3
20.6
32.7
8.7
17.6
31.9
10.0
22.1
32.2
10.3
21.6
37.2
10.0
20.1
38.9
15.7
27.6
42.1
19.0
29.8
47.5
18.6
41.8
33.8
11.6
23.2
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 5.3
TWO-TERM PRESIDENCY OF MANUEL BULNES, 1841-1851
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
50
Private Consumption (1)
45
40
Government Consumption (2)
35
Gross Fixed Capital Formation (3)
30
25
Exports (4)
20
Imports (5)
15
1+2+3+4-5
10
5
(6)
Real GDP (7)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
29
1851
1850
1849
1848
1847
1846
1845
1844
1843
1842
1841
0
Residual (7-6)/7% (8)
6
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
Table: 6.1
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
3.4
7.3
3.7
1.9
-1.5
-4.3
3.5
5.4
5.2
4.7
1.8
3.1
3.9
3.0
5.0
4.4
3.9
3.1
4.0
3.6
0.6
0.0
3.1
2.9
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
Average
6.4
2.1
-3.8
5.1
5.9
3.2
3.2
2.2
2.9
6.3
1.1
3.2
Graph: 6.1
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
8.00
Real GDP Annual Rate
of Growth (%)
6.00
4.00
Real Aggregate
Expenditure Annual
Rate of Growth (%)
2.00
0.00
-2.00
-4.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
30
1861
1860
1859
1858
1857
1856
1855
1854
1853
1852
1851
-6.00
Real Private
Consumption and
Investment Annual Rate
of Growth (%)
Table: 6.2
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
Average
GDP
Agriculture
310.0
321.3
316.3
327.6
344.8
351.1
364.9
383.3
398.3
414.3
417.0
359.0
68.1
70.1
69.1
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
33.5
49.5
263.2
9.3
31.8
50.8
264.3
8.1
31.8
50.2
263.8
8.7
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 6.2
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
GDP by Sectors of Economic Activity
450.0
GDP
400.0
Agriculture
350.0
Mining
300.0
Manufacturing
250.0
Other Sectors
200.0
Government Services
150.0
Construction
100.0
Commerce
50.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
31
1861
1860
1859
1858
1857
1856
1855
1854
1853
1852
1851
0.0
Services (Electricity, Gas
and Water)
Table: 6.3
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
47.5
18.6
41.8
47.9
20.3
38.5
44.4
15.9
24.4
47.6
16.3
31.2
46.3
20.6
34.5
47.4
19.4
38.0
48.2
21.4
37.4
57.5
22.6
36.9
60.0
24.4
36.1
52.4
30.6
41.0
48.5
24.3
32.1
49.8
21.3
35.6
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 6.3
TWO-TERM PRESIDENCY OF MANUEL MONTT, 1851-1861
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
70
Private Consumption (1)
60
Government Consumption (2)
50
Gross Fixed Capital Formation (3)
40
Exports (4)
30
Imports (5)
20
1+2+3+4-5
10
Real GDP (7)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
32
1861
1860
1859
1858
1857
1856
1855
1854
1853
1852
1851
0
(6)
Residual (7-6)/7 % (8)
7
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
Table: 7.1
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
0.6
0.0
0.2
0.1
4.4
5.0
5.9
3.6
4.0
5.7
2.7
0.9
-3.4
-1.0
5.6
5.8
10.6
9.4
2.7
5.4
0.3
-1.4
3.1
3.1
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
Average
1.1
0.8
4.8
2.3
2.7
-3.8
-1.6
8.9
11.7
5.7
-1.1
2.9
Graph: 7.1
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
14.00
Real GDP Annual Rate of Growth
(%)
12.00
10.00
8.00
6.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
4.00
2.00
0.00
Real Private Consumption and
Investment Annual Rate of Growth
(%)
-2.00
-4.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
33
1871
1870
1869
1868
1867
1866
1865
1864
1863
1862
1861
-6.00
Table: 7.2
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
Average
GDP
Agriculture
416.9
418.0
436.5
462.4
480.8
494.0
477.3
504.0
557.5
572.4
573.9
490.3
70.1
67.8
75.4
75.6
79.1
79.9
78.5
83.5
88.6
87.4
95.5
80.1
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
31.8
50.8
264.3
8.1
33.7
52.2
264.3
7.9
29.3
53.7
278.1
8.8
38.3
55.3
293.1
9.9
36.5
56.9
308.4
13.2
31.8
59.8
322.5
18.1
42.4
46.8
309.6
18.8
42.0
53.4
325.0
17.0
51.0
61.8
356.0
16.2
43.5
73.1
368.4
17.0
39.9
68.0
370.4
17.2
38.2
57.4
314.6
13.8
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 7.2
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
GDP by Sectors of Economic Activity
700.0
GDP
600.0
Agriculture
500.0
Mining
Manufacturing
400.0
Other Sectors
300.0
Government Services
200.0
Construction
100.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
34
1871
1870
1869
1868
1867
1866
1865
1864
1863
1862
1861
0.0
Services (Electricity, Gas
and Water)
Table: 7.3
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Residual
(7-6)/7 %
(8)
Real GDP
(7)
48.5
24.3
32.1
46.0
26.6
33.9
49.0
28.9
38.9
56.0
37.2
37.5
71.2
36.3
44.3
91.4
39.8
39.0
93.3
42.7
53.8
86.3
46.4
59.2
84.4
54.0
62.0
87.8
42.2
65.9
85.3
48.4
62.5
72.7
38.8
48.1
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 7.3
TWO-TERM PRESIDENCY OF JOSÉ JOAQUÍN PÉREZ, 1861-1871
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
100
Private Consumption (1)
90
Government Consumption (2)
80
70
Gross Fixed Capital Formation
(3)
Exports (4)
60
50
40
Imports (5)
30
1+2+3+4-5
20
10
(6)
Real GDP (7)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-125)]
Source: Diaz-Lüders-Wagner (2005:121-125)
35
1871
1870
1869
1868
1867
1866
1865
1864
1863
1862
1861
0
Residual (7-6)/7 % (8)
8
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
Table: 8.1
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
1871
1872
1873
1874
1875
1876
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
0.3
-1.4
7.5
9.4
6.7
7.2
-4.2
-5.1
8.3
9.7
-1.0
-0.8
2.9
3.2
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Average
-1.1
10.7
7.6
-9.7
12.1
0.3
3.3
Graph: 8.1
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
Rates of Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and
Investment
15.00
Real GDP Annual Rate of Growth (%)
10.00
5.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
0.00
-5.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-10.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
36
1876
1875
1874
1873
1872
1871
-15.00
Table: 8.2
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1871
1872
1873
1874
1875
1876
Average
GDP
Agriculture
573.9
617.1
658.3
631.0
683.4
676.2
640.0
95.5
94.8
108.9
96.0
99.8
93.9
98.2
Mining
Manufacturing
Other Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
39.9
68.0
370.4
17.2
52.2
74.2
396.0
18.8
48.3
76.1
425.1
20.7
59.4
64.2
410.6
27.3
56.0
83.2
444.5
26.7
60.1
85.5
436.7
24.3
52.7
75.2
413.9
22.5
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 8.2
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
GDP by Sectors of Economic Activity
800.0
GDP
700.0
Agriculture
600.0
Mining
500.0
Manufacturing
400.0
Other Sectors
300.0
Government Services
200.0
Construction
Commerce
100.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
37
1876
1875
1874
1873
1872
1871
0.0
Services (Electricity, Gas and
Water)
Table: 8.3
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1871
1872
1873
1874
1875
1876
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
85.3
48.4
62.5
86.5
58.1
83.9
90.6
56.7
87.9
113.3
62.6
86.0
111.5
53.2
87.8
104.3
47.4
83.7
98.6
54.4
82.0
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 8.3
PRESIDENCY OF FEDERICO ERRÁZURIZ ZAÑARTU, 1871-1876
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
120.0
Private Consumption (1)
Government Consumption
(2)
Gross Fixed Capital
Formation (3)
Exports (4)
100.0
80.0
60.0
Imports (5)
40.0
1+2+3+4-5
(6)
Real GDP (7)
20.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
38
1876
1875
1874
1873
1872
1871
0.0
9
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
Table: 9.1
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
-1.0
-0.8
-3.2
-4.2
6.1
4.6
15.2
12.8
12.4
11.3
3.5
4.0
5.5
4.6
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1876
1877
1878
1879
1880
1881
Average
0.3
-4.1
7.3
10.2
11.7
3.2
4.8
Graph: 9.1
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
5.00
0.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-5.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
39
1881
1880
1879
1878
1877
1876
-10.00
Table: 9.2
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1876
1877
1878
1879
1880
1881
Average
GDP
Agriculture
676.2
654.6
694.3
799.9
898.8
930.4
775.7
93.9
83.9
86.4
107.7
113.7
118.8
100.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
60.1
85.5
436.7
24.3
54.0
92.3
424.3
24.0
57.0
106.1
444.9
19.5
63.8
108.8
519.6
29.9
81.6
119.0
584.5
37.1
97.5
110.4
603.7
41.0
69.0
103.7
502.3
29.3
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 9.2
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
GDP by Sector of Economic Activity
1,000.0
GDP
900.0
Agriculture
800.0
700.0
Mining
600.0
Manufacturing
500.0
Other Sectors
400.0
Government Services
300.0
200.0
Construction
100.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
40
1881
1880
1879
1878
1877
1876
0.0
Services (Electricity, Gas
and Water)
Table: 9.3
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1876
1877
1878
1879
1880
1881
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7%
(8)
104.3
47.4
83.7
99.3
42.1
70.0
88.4
45.1
64.9
116.3
55.4
61.3
126.7
68.9
67.0
138.2
86.4
88.9
112.2
57.6
72.6
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 9.3
PRESIDENCY OF ANÍBAL PINTO, 1876-1881
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
160
Private Consumption (1)
140
Government Consumption
(2)
Gross Fixed Capital
Formation (3)
Exports (4)
120
100
80
Imports (5)
60
1+2+3+4-5
40
(6)
Real GDP (7)
20
Residual (7-6)/7% (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
41
1881
1880
1879
1878
1877
1876
0
10
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
Table: 10.1
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
3.5
4.0
8.3
9.0
0.6
0.7
0.9
1.9
-3.0
-4.9
4.2
4.3
2.4
2.5
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1881
1882
1883
1884
1885
1886
Average
3.2
6.6
-0.9
3.3
-2.6
0.9
1.7
Graph: 10.1
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
10.00
8.00
Real GDP Annual Rate of Growth (%)
6.00
4.00
2.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
0.00
-2.00
-4.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
42
1886
1885
1884
1883
1882
1881
-6.00
Table: 10.2
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1881
1882
1883
1884
1885
1886
Average
GDP
Agriculture
930.4
1,008.0
1,014.2
1,023.2
992.7
1,034.7
1,000.5
118.9
123.1
110.8
113.2
108.9
103.9
113.1
Mining
Manufacturing
Other Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
97.5
110.4
603.7
41.0
121.2
110.5
653.2
48.2
127.9
115.5
660.0
53.1
128.2
122.9
658.8
45.6
113.1
130.9
639.7
41.4
114.1
138.6
678.2
54.4
117.0
121.5
648.9
47.3
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 10.2
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
GDP by Sectors of Economic Activity
1,200.0
GDP
Agriculture
1,000.0
Mining
800.0
Manufacturing
600.0
Other Sectors
Government Services
400.0
Construction
200.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
43
1886
1885
1884
1883
1882
1881
0.0
Services (Electricity, Gas and
Water)
Table: 10.3
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1881
1882
1883
1884
1885
1886
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
138.2
86.4
88.9
169.8
111.1
119.7
184.1
126.4
135.5
176.4
113.6
133.4
147.5
102.2
101.4
182.5
111.6
111.7
166.4
108.6
115.1
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 10.3
PRESIDENCY OF DOMINGO SANTA MARÍA, 1881-1886
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
200
Private Consumption (1)
180
Government Consumption (2)
160
Gross Fixed Capital Formation
(3)
Exports (4)
140
120
100
Imports (5)
80
60
1+2+3+4-5
40
Real GDP (7)
20
(6)
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
44
1886
1885
1884
1883
1882
1881
0
11
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
Table: 11.1
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
4.2
4.3
0.9
1886
1887
7.0
5.5
5.1
1888
-4.0
-1.2
2.2
1889
2.6
4.3
1.1
1890
7.3
6.7
5.3
1891
8.2
7.0
7.9
Average
4.2
4.4
3.7
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 11.1
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
10.00
8.00
Real GDP Annual Rate of Growth (%)
6.00
4.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
2.00
0.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-2.00
-4.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
45
1891
1890
1889
1888
1887
1886
-6.00
Table: 11.2
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1886
1887
1888
1889
1890
1891
Average
GDP
Agriculture
1,034.7
1,107.1
1,063.3
1,090.8
1,169.9
1,265.4
1,121.9
103.9
99.6
81.7
72.3
76.7
100.2
89.1
Mining
Other
Sectors
Manufacturing
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
114.1
138.6
678.6
54.4
141.7
145.4
720.5
58.4
154.4
151.1
676.1
44.0
162.4
155.8
700.3
53.6
178.5
159.5
755.2
63.4
158.2
162.5
844.5
88.5
151.6
152.2
729.2
60.4
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Grpah: 11.2
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
GDP by Sectors of Economic Activity
1,400.0
GDP
1,200.0
Agriculture
Mining
1,000.0
Manufacturing
800.0
Other Sectors
600.0
Government Services
400.0
Construction
200.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
46
1891
1890
1889
1888
1887
1886
0.0
Services (Electricity, Gas
and Water)
Table: 11.3
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1886
1887
1888
1889
1890
1891
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
182.5
111.6
111.7
196.2
138.6
123.5
163.8
139.5
155.3
200.8
143.7
178.8
227.1
159.0
190.0
234.5
159.7
179.5
200.8
142.0
156.5
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 11.3
PRESIDENCY OF MANUEL BALMACEDA, 1886-1891
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
250
Private Consumption (1)
Government Consumption
(2)
Gross Fixed Capital
Formation (3)
Exports (4)
200
150
100
Imports (5)
1+2+3+4-5
50
(6)
Real GDP (7)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
47
1891
1890
1889
1888
1887
1886
0
Residual (7-6)/7 % (8)
12
PRESIDENCY OF JORGE MONTT, 1891-1896
Table: 12.1
PRESIDENCY OF JORGE MONTT, 1891-1896
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate of
Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and
Investment Annual Rate of
Growth (%)
1891
8.2
7.0
7.9
1892
-2.0
1.8
6.4
1893
5.0
1.3
4.6
1894
-1.6
-4.4
-5.5
1895
7.0
9.3
5.2
1896
0.6
-0.7
-5.2
Average
2.8
2.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
2.2
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 12.1
PRESIDENCY OF JORGE MONTT, 1891-1896
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
12.00
10.00
Real GDP Annual Rate of Growth (%)
8.00
6.00
4.00
2.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
0.00
-2.00
-4.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-6.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
48
1896
1895
1894
1893
1892
1891
-8.00
Table: 12.2
PRESIDENCY OF JORGE MONTT, 1891-1896
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1891
1892
1893
1894
1895
1896
Average
GDP
Agriculture
1,265.4
1,240.1
1,301.7
1,280.3
1,370.1
1,377.9
1,305.9
100.2
124.7
136.5
108.0
123.8
120.6
119.0
Mining
Other
Sectors
Manufacturing
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
158.2
162.5
844.5
88.5
148.8
164.8
801.7
56.7
170.4
166.7
828.1
49.2
186.4
168.1
817.9
57.4
200.7
169.0
876.6
63.4
188.8
169.6
898.8
78.8
175.6
166.8
844.6
65.7
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 12.2
PRESIDENCY OF JORGE MONTT, 1891-1896
GDP by Sectors of Economic Activity
1,600.0
GDP
1,400.0
Agriculture
1,200.0
Mining
1,000.0
Manufacturing
800.0
Other Sectors
600.0
Government Services
400.0
Construction
200.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
49
1896
1895
1894
1893
1892
1891
0.0
Services (Electricity, Gas
and Water)
Table: 12.3
PRESIDENCY OF JORGE MONTT, 1891-1896
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption (2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1891
1892
234.5
190.0
159.7
152.0
179.5
219.9
1893
1894
156.5
162.5
177.7
185.6
201.6
172.2
1895
1896
222.4
273.3
205.7
234.6
219.7
231.8
Average
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7%
(8)
206.5
185.9
204.1
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 12.3
PRESIDENCY OF JORGE MONTT, 1891-1896
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
300
Private Consumption (1)
Government Consumption (2)
250
Gross Fixed Capital Formation
(3)
Exports (4)
200
150
Imports (5)
100
1+2+3+4-5
(6)
Real GDP (7)
50
Residual (7-6)/7% (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
50
1896
1895
1894
1893
1892
1891
0
13
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Table: 13.1
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
0.6
-0.7
-5.2
1897
-2.2
0.5
6.3
1898
12.1
6.2
4.7
1899
0.6
2.3
3.6
1900
-2.6
1.3
1.6
1901
2.5
7.4
6.4
Average
1.8
2.8
2.9
1896
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 13.1
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
-8.00
Real GDP Annual Rate of Growth (%)
Real Aggregate Expenditure Annual
Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
51
1901
1900
1899
1898
1897
1896
Real Private Consumption and
Investment Annual Rate of Growth (%)
Table: 13.2
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1896
1897
1898
1899
1900
1901
Average
GDP
Agriculture
1,377.9
1,347.3
1,510.7
1,520.1
1,481.1
1,518.2
1,459.2
120.6
134.7
147.5
142.5
125.1
143.8
135.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
188.8
169.6
898.8
78.8
180.5
169.8
862.3
57.8
223.1
169.7
970.4
74.9
233.3
169.4
974.9
76.3
239.2
169.0
947.8
75.5
215.7
168.9
989.8
88.6
213.4
169.4
940.7
75.3
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 13.2
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
GDP by Sectors of Economic Activity
GDP
1,600.0
Agriculture
1,400.0
1,200.0
Mining
1,000.0
Manufacturing
800.0
Other Sectors
600.0
Government Services
400.0
Construction
200.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
52
1901
1900
1899
1898
1897
1896
0.0
Services (Electricity, Gas and
Water)
Table: 13.3
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1896
1897
1898
1899
1900
1901
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
273.3
234.6
231.8
210.2
178.7
212.8
241.3
234.2
190.9
230.9
218.4
198.8
231.3
210.3
249.8
261.6
182.7
298.3
241.4
209.8
230.4
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 13.3
PRESIDENCY OF FEDERICO ERRÁZURIZ ECHAURREN, 1896-1901
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
350
Private Consumption (1)
300
Government Consumption (2)
250
Gross Fixed Capital Formation (3)
200
Exports (4)
150
Imports (5)
100
1+2+3+4-5
(6)
Real GDP (7)
50
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
53
1901
1900
1899
1898
1897
1896
0
14
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
Table: 14.1
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
2.5
7.4
6.4
1901
1902
4.4
1.9
2.4
1903
-5.6
-4.7
-3.7
1904
1905
8.2
-0.1
8.8
4.3
8.3
5.7
1906
7.8
14.5
13.3
Average
2.9
5.4
5.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 14.1
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
5.00
0.00
-5.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
54
1906
1905
1904
1903
1902
1901
-10.00
Table: 14.2
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1901
1902
1903
1904
1905
1906
Average
GDP
Agriculture
1,518.2
1,584.5
1,495.5
1,618.0
1,616.3
1,742.7
1,595.9
143.8
162.1
129.1
150.5
126.8
128.4
140.1
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
215.7
168.9
989.8
88.6
219.0
169.5
1,034.0
91.9
242.0
171.0
953.4
72.4
250.4
173.9
1,043.2
87.9
275.0
178.6
1,035.9
88.3
283.0
185.2
1,146.1
123.1
247.5
174.5
1,033.7
92.0
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 14.2
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
GDP by Sectors of Economic Activity
2,000.0
GDP
1,800.0
Agriculture
1,600.0
Mining
1,400.0
Manufacturing
1,200.0
Other Sectors
1,000.0
800.0
Government Services
600.0
Construction
400.0
Commerce
200.0
Services (Electricity, Gas
and Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)
Source: Diaz-Lüders-Wagner (2005:28-35)
55
1906
1905
1904
1903
1902
1901
0.0
Table: 14.3
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1901
1902
1903
1904
1905
1906
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
261.6
182.7
298.3
259.7
210.2
290.1
234.0
213.3
304.8
261.8
231.3
340.1
252.6
260.2
444.9
307.2
220.5
539.6
262.8
219.7
369.6
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 14.3
PRESIDENCY OF GERMÁN RIESCO, 1901-1906
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
600
Private Consumption (1)
500
Government Consumption (2)
400
Gross Fixed Capital Formation
(3)
Exports (4)
300
Imports (5)
1+2+3+4-5
200
(6)
Real GDP (7)
100
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
56
1906
1905
1904
1903
1902
1901
0
15
PRESIDENCY OF PEDRO MONTT, 1906-1910
Table: 15.1
PRESIDENCY OF PEDRO MONTT, 1906-1910
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
7.8
14.5
13.3
1907
5.3
11.7
13.2
1908
10.6
3.2
5.1
1906
1909
0.5
-3.5
-4.4
1910
11.3
10.5
10.0
Average
7.1
7.3
7.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 15.1
PRESIDENCY OF PEDRO MONTT, 1906-1910
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
5.00
0.00
-5.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
1910
1909
1908
1907
1906
-10.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
57
Table: 15.2
PRESIDENCY OF PEDRO MONTT, 1906-1910
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1906
1907
1908
1909
1910
Average
GDP
Agriculture
1,742.7
1,834.8
2,029.6
2,039.9
2,270.6
1,983.5
128.4
134.7
155.5
145.1
158.3
144.4
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
283.0
185.2
1,146.1
285.5
193.9
1,220.7
314.7
204.1
1,355.4
332.5
214.7
1,347.5
380.0
223.8
1,508.3
3,191.6
204.3
1,315.6
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 15.2
PRESIDENCY OF PEDRO MONTT, 1906-1910
GDP by Sectors of Economic Activity
2,500.0
GDP
Agriculture
2,000.0
Mining
Manufacturing
1,500.0
Other Sectors
Government Services
1,000.0
Construction
500.0
Commerce
Services (Electricity, Gas
and Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
58
1910
1909
1908
1907
1906
0.0
Table: 15.3
PRESIDENCY OF PEDRO MONTT, 1906-1910
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption (2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1906
307.2
220.5
539.6
1907
317.2
234.4
703.3
1908
289.2
311.3
658.7
1909
297.2
304.4
558.5
1910
340.0
310.2
333.9
280.9
599.0
611.8
Average
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7%
(8)
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 15.3
PRESIDENCY OF PEDRO MONTT, 1906-1910
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
800
Private Consumption (1)
700
Government Consumption (2)
600
Gross Fixed Capital Formation (3)
500
Exports (4)
400
Imports (5)
300
1+2+3+4-5
(6)
200
Real GDP (7)
100
Residual (7-6)/7% (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
59
1910
1909
1908
1907
1906
0
16
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
Table: 16.1
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1910
11.3
10.5
10.0
1911
-2.7
2.0
2.3
1912
4.0
3.4
2.1
1913
1.8
0.4
2.4
1914
-15.5
-15.4
-15.6
1915
-3.2
-14.0
-14.0
Average
-0.7
-2.2
-2.1
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 16.1
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
15.00
Real GDP Annual Rate of Growth
(%)
10.00
5.00
Real Aggregate Expenditure
Annual Rate of Growth (%)
0.00
-5.00
-10.00
Real Private Consumption and
Investment Annual Rate of Growth
(%)
-15.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
60
1915
1914
1913
1912
1911
1910
-20.00
Table: 16.2
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1910
1911
1912
1913
1914
1915
Average
GDP
Agriculture
2,270.5
2,209.1
2,296.8
2,338.9
1,976.5
1,912.8
2,167.4
158.3
154.6
182.3
198.7
183.5
201.8
179.9
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
380.0
223.8
1,508.3
180.3
380.4
228.3
1,445.8
154.7
400.2
223.8
1,490.5
148.6
420.8
223.8
1,495.6
131.1
379.4
161.9
1,251.6
104.8
302.4
180.4
1,228.3
100.6
377.2
207.0
1,403.4
136.7
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 16.2
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
GDP by Sectors of Economic Activity
GDP
2,500.0
Agriculture
2,000.0
Mining
Manufacturing
1,500.0
Other Sectors
1,000.0
Government Services
Construction
500.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
61
1915
1914
1913
1912
1911
1910
0.0
Services (Electricity, Gas and
Water)
Table: 16.3
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1910
1911
1912
1913
1914
1915
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
340.0
333.9
599.0
340.8
302.9
680.5
382.8
333.4
711.4
336.7
357.4
703.1
288.6
260.9
555.0
247.8
290.3
330.8
322.8
313.1
596.6
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 16.3
PRESIDENCY OF RAMÓN BARROS LUCO, 1910-1915
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
800
Private Consumption (1)
700
Government Consumption (2)
600
Gross Fixed Capital Formation
(3)
500
Exports (4)
400
Imports (5)
300
1+2+3+4-5
200
(6)
Real GDP (7)
100
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
62
1915
1914
1913
1912
1911
1910
0
17
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
Table: 17.1
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
-3.2
-14.0
22.6
24.0
2.2
6.3
1.3
-2.9
-14.2
-5.5
13.0
0.5
3.6
1.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1915
1916
1917
1918
1919
1920
Average
-14.0
27.9
8.0
-3.2
-5.5
-1.8
1.9
Graph: 17.1
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
35.00
30.00
25.00
20.00
15.00
10.00
5.00
0.00
-5.00
-10.00
-15.00
-20.00
Real GDP Annual Rate of Growth
(%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
63
1920
1919
1918
1917
1916
1915
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and
Investment Annual Rate of Growth
(%)
Table: 17.2
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1915
1916
1917
1918
1919
1920
Average
GDP
Agriculture
1,912.8
2,344.9
2,395.3
2,425.8
2,081.3
2,351.0
2,251.9
201.8
207.2
196.3
199.7
193.0
184.1
197.0
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
302.4
180.4
1,228.3
100.6
477.1
212.4
1,448.1
91.9
508.9
226.9
1,463.2
82.5
492.6
247.8
1,485.8
81.0
322.6
248.3
1,317.4
86.3
427.2
239.0
1,500.7
129.9
421.8
225.8
1,407.3
95.4
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 17.2
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
GDP by Sectors of Economic Activity
3,000.0
GDP
Agriculture
2,500.0
Mining
2,000.0
Manufacturing
Other Sectors
1,500.0
Government Services
1,000.0
Construction
500.0
Commerce
Services (Electricity, Gas and
Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
64
1920
1919
1918
1917
1916
1915
0.0
Table: 17.3
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1915
1916
1917
1918
1919
1920
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
247.8
290.3
330.8
241.1
387.9
465.4
219.5
418.4
597.6
220.0
546.2
620.9
207.3
174.8
455.6
259.8
387.9
411.7
232.6
367.6
480.3
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 17.3
PRESIDENCY OF JUAN LUIS SANFUENTES, 1915-1920
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
700
Private Consumption (1)
600
Government Consumption (2)
500
400
Gross Fixed Capital Formation
(3)
Exports (4)
300
Imports (5)
1+2+3+4-5
200
(6)
Real GDP (7)
100
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
65
1920
1919
1918
1917
1916
1915
0
18
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
Table: 18.1
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate of
Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and
Investment Annual Rate of
Growth (%)
1920
13.0
0.5
-1.8
1921
-13.3
-6.6
-8.2
1922
3.7
1.1
1.2
1923
20.5
20.8
23.0
1924
7.5
6.9
6.9
Average
6.3
4.6
4.2
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 18.1
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
25.00
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
5.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
0.00
-5.00
-10.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-15.00
1924
1923
1922
1921
1920
-20.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
66
Table: 18.2
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1920
1921
1922
1923
1924
Average
GDP
Agriculture
2,351.0
2,037.7
2,112.2
2,544.1
2,736.0
2,356.2
184.1
203.2
208.9
218.3
218.7
206.6
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
427.2
239.0
1,500.7
129.9
255.5
245.6
1,333.3
114.1
266.6
256.7
1,380.0
116.5
416.1
285.3
1,624.4
127.3
495.1
285.5
1,736.7
140.0
372.1
262.4
1,515.0
125.6
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 18.2
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
GDP by Sectors of Economic Activity
3,000.0
GDP
Agriculture
2,500.0
Mining
2,000.0
Manufacturing
Other Sectors
1,500.0
Government Services
1,000.0
Construction
Commerce
500.0
Services (Electricity, Gas and
Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
67
1924
1923
1922
1921
1920
0.0
Table: 18.3
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
1920
1921
1922
1923
1924
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
259.8
387.9
411.7
276.8
231.5
412.7
279.4
265.6
397.5
293.4
398.8
565.5
312.1
468.3
629.5
284.3
350.4
483.4
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 18.3
PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1920-1924
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
700
Private Consumption (1)
600
Government Consumption (2)
500
Gross Fixed Capital Formation
(3)
Exports (4)
400
Imports (5)
300
1+2+3+4-5
(6)
200
Real GDP (7)
100
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
68
1924
1923
1922
1921
1920
0
19
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Table: 19.1
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1925
4.4
10.5
10.4
1926
-8.3
1.9
0.3
1927
-1.8
-13.1
-14.1
Average
-1.9
-0.2
-1.1
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 19.1
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
15.00
Real GDP Annual Rate of Growth (%)
10.00
5.00
0.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
-5.00
-10.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-15.00
1927
1926
1925
-20.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
69
Table: 19.2
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1925
1926
1927
Average
GDP
Agriculture
2,855.1
2,617.3
2,569.8
2,680.7
205.1
213.6
228.4
215.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
515.5
306.1
1,828.5
163.2
458.2
280.0
1,665.5
133.8
439.9
269.9
1,631.6
124.5
471.2
285.3
1,708.5
140.5
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 19.2
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
GDP by Sectors of Economic Activity
3,000.0
GDP
Agriculture
2,500.0
Mining
2,000.0
Manufacturing
Other Sectors
1,500.0
Government Services
1,000.0
Construction
Commerce
500.0
Services (Electricity, Gas and Water)
1927
1926
1925
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
70
Table: 19.3
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1925
1926
1927
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
347.7
399.7
376.1
374.5
Exports
(4)
Imports
(5)
432.4
411.4
461.7
435.2
780.0
1057.3
727.9
855.1
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 19.3
PRESIDENCY OF EMILIANO FIGUEROA LARRAÍN, December 23, 1925-May 10, 1927
Expenditure on GDP (Millions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
1200
Private Consumption (1)
1000
Government Consumption (2)
Gross Fixed Capital Formation (3)
800
Exports (4)
600
Imports (5)
400
1+2+3+4-5
200
Real GDP (7)
(6)
Residual (7-6)/7 % (8)
1927
1926
1925
0
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
71
20
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 19281931
Table: 20.1
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1928
22.5
18.8
20.6
1929
5.2
10.9
12.5
1930
-16.0
-10.8
-12.6
1931
-21.2
29.5
33.0
Average
-2.4
12.1
13.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 20.1
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
30.00
Real GDP Annual Rate of Growth (%)
20.00
10.00
0.00
Real Aggregate Expenditure Annual
Rate of Growth (%)
-10.00
-20.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-30.00
1931
1930
1929
1928
-40.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
72
Table: 20.2
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1928
1929
1930
1931
Average
GDP
Agriculture
3,147.9
3,312.5
2,782.2
2,191.9
2,858.6
285.9
273.5
253.7
232.4
261.4
Mining
Other
Sectors
Manufacturing
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
663.3
281.8
1,916.9
100.6
707.0
304.1
2,027.9
120.0
515.2
288.2
1,725.0
101.2
343.4
233.5
1,382.6
87.0
557.2
276.9
1,763.1
102.2
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph:20.2
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
GDP by Sectors of Economic Activity
GDP
3,500.0
Agriculture
3,000.0
Mining
2,500.0
Manufacturing
2,000.0
Other Sectors
1,500.0
Government Services
1,000.0
Construction
500.0
Commerce
1931
1930
1929
1928
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
73
Services (Electricity, Gas
and Water)
Table: 20.3
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1928
1929
1930
1931
Average
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
401.3
560.0
780.0
396.2
586.9
1,007.8
413.6
362.4
909.9
394.0
307.1
463.0
401.3
454.1
790.2
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 20.3
PRESIDENCY (MILITARY DICTATORSHIP) OF CARLOS IBÁÑEZ DEL CAMPO, 1928-1931
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
1200
Private Consumption (1)
1000
Government Consumption (2)
Gross Fixed Capital Formation (3)
800
Exports (4)
600
Imports (5)
400
1+2+3+4-5
(6)
Real GDP (7)
200
Residual (7-6)/7 % (8)
1931
1930
1929
1928
0
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
74
21
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Table: 21.1
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1931
-21.2
-29.5
-33.0
1932
-15.5
-19.8
-15.5
Average
-18.4
-24.7
-24.2
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 21.1
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
0.00
Real GDP Annual Rate of Growth (%)
-5.00
-10.00
-15.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
-20.00
-25.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-30.00
1932
1931
-35.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
75
Table: 21.2
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932 (JULY 27, 1931-AUGUST
20, 1932)(NOVEMBER 15, 1931-JUNE 4, 1932)
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1931
1932
Average
GDP
Agriculture
2,191.9
1,852.0
2,022.0
232.4
227.0
229.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
343.4
233.5
1,382.6
87.0
199.9
235.6
1,189.5
69.8
271.7
234.5
1,286.1
78.4
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 21.2
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932 (JULY
27, 1931-AUGUST 20, 1932)(NOVEMBER 15, 1931-JUNE 4, 1932)
GDP by Sectors of Economic Activity
2,500.0
GDP
Agriculture
2,000.0
Mining
Manufacturing
1,500.0
Other Sectors
1,000.0
Government Services
Construction
500.0
Commerce
1932
1931
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
76
Services (Electricity, Gas
and Water)
Table: 21.3
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1931
394.0
307.1
463.0
1932
231.2
133.1
163.2
Average
312.6
220.1
313.1
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 21.3
PRESIDENCY OF JUAN ESTEBAN MONTERO RODRÍGUEZ, JULY 1931 - JUNE 1932
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
500.0
Private Consumption (1)
450.0
Government Consumption (2)
400.0
350.0
Gross Fixed Capital Formation (3)
300.0
Exports (4)
250.0
Imports (5)
200.0
150.0
1+2+3+4-5
100.0
Real GDP (7)
(6)
50.0
Residual (7-6)/7 % (8)
1932
1931
0.0
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
77
PART II
1930-1973
RISE AND FALL OF INTERVENTIONIST STRUCTURALISM
1930-1941
GENESIS OF THE INTERVENTIONIST STRUCTURALIST PARADIGM AND
ECONOMIC RECOVERY
GRADUAL REPLACEMENT OF LIBERAL COMPONENTS OF COLLECTIVE
MARKETS BY INTERVENTIONIST NONLIBERAL COMPONENTS
78
22
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Table: 22.1
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1932
-15.5
-19.8
-15.5
1933
23.2
18.3
15.9
1934
20.7
18.0
20.1
1935
5.8
9.1
7.1
1936
4.9
5.9
6.7
1937
13.8
10.6
11.9
1938
1.1
4.3
3.2
Average
7.7
6.6
7.0
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Graph: 22.1
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
30.00
25.00
20.00
15.00
10.00
5.00
0.00
-5.00
-10.00
-15.00
-20.00
-25.00
Real GDP Annual Rate of Growth (%)
Real Aggregate Expenditure Annual Rate of
Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
79
1938
1937
1936
1935
1934
1933
1932
Real Private Consumption and Investment
Annual Rate of Growth (%)
Table: 22.2
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1932
1933
1934
1935
1936
1937
1938
Average
GDP
Agriculture
1,852.0
2,282.2
2,755.1
2,913.7
3,056.9
3,477.7
3,515.7
2,836.2
227.0
290.9
319.8
265.8
275.3
285.4
293.4
279.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
199.9
235.6
1,189.5
69.8
235.4
264.9
1,491.0
110.6
367.9
299.4
1,768.0
123.4
428.7
337.2
1,882.0
155.2
433.1
356.3
1,992.2
177.1
577.6
375.4
2,239.3
197.2
519.7
389.1
2,313.5
234.5
394.6
322.6
1,839.4
152.5
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 22.2
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
GDP by Sectors of Economic Activity
4,000.0
GDP
3,500.0
Agriculture
3,000.0
Mining
2,500.0
Manufacturing
2,000.0
Other Sectors
1,500.0
Government Services
1,000.0
Construction
Commerce
500.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
80
1938
1937
1936
1935
1934
1933
1932
0.0
Services (Electricity, Gas and
Water)
Table: 22.3
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1932
1933
1934
1935
1936
1937
1938
Average
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
231.2
133.1
163.2
313.9
217.4
162.0
330.2
371.0
242.8
405.3
378.4
329.6
410.1
394.7
371.1
421.5
538.7
417.1
472.0
490.7
475.4
369.2
360.6
308.7
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
Graph: 22.3
SECOND PRESIDENCY OF ARTURO ALESSANDRI PALMA, 1932-1938
600.0
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
Private Consumption (1)
500.0
Government Consumption (2)
400.0
Gross Fixed Capital Formation
(3)
Exports (4)
300.0
Imports (5)
200.0
1+2+3+4-5
100.0
(6)
Real GDP (7)
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
81
1938
1937
1936
1935
1934
1933
1932
0.0
23
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
A trend of accelerated expansion of the state-owned segment of the non-financial and financial
corporate sector is initiated during the Presidency of Pedro Aguirre Cerda (1938-1941). The candidate
of a center-left coalition, which includes the Radical, Socialist and Communist parties, Aguirre
narrowly defeats Gustavo Ross, the rightwing candidate. In response to the devastating earthquake of
Chillàn in 1939, Aguirre creates the Chilean Development Corporation (Corporación de Formento,
CORFO), the most powerful state owned enterprise in Chilean history. CORFO serves as a
modernization and development catalyst by expanding the corporate segment of the public sector in
steel, electricity, petroleum, transportation, mining, agriculture, and manifold service activities. It plays
a pivotal governmental role throughout the 1938-1973 presidencies of Aguirre Cerda, Ríos, González
Videla, Ibáñez del Campo, Jorge Alessandri, Eduardo Frei Montalva, and Salvador Allende.
Table: 23.1
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1938
1.1
4.3
3.2
1939
2.1
1.5
1.1
1940
4.0
5.0
6.6
1941
-1.1
-3.1
-5.7
Average
1.5
1.9
1.3
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
82
Graph: 23.1
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
8.00
Real GDP Annual Rate of Growth (%)
6.00
4.00
2.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
0.00
-2.00
-4.00
-6.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
1941
1940
1939
1938
-8.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Table: 23.2
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1938
1939
1940
1941
Average
GDP
Agriculture
3,515.7
3,589.5
3,733.3
3,691.0
3,632.4
293.4
297.6
276.3
252.5
280.0
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
519.7
389.1
2,313.5
234.5
520.5
396.5
2,374.9
250.5
546.9
458.8
2,451.3
241.2
379.8
638.7
631.3
2,168.5
277.8
455.3
556.5
468.9
2,327.1
251.0
417.6
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
83
Commerce
Services
(Electricity,
Gas and
Water)
Graph: 23.2
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
GDP by Sectors of Economic Activity
4,000.0
GDP
3,500.0
Agriculture
3,000.0
Mining
2,500.0
Manufacturing
2,000.0
Other Sectors
1,500.0
Government Services
1,000.0
Construction
Commerce
500.0
Services (Electricity, Gas and
Water)
1941
1940
1939
1938
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 23.3
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital
Formation, Exports and Imports
Private
Consumption
(1)
1938
1939
1940
1941
Average
2,712.4
2,616.7
2,664.6
Government
Consumption
(2)
Gross Fixed
Capital
Formation
(3)
Exports
(4)
Imports
(5)
1+2+3+4-5
(6)
472.0
490.7
475.4
493.2
441.6
406.1
470.4
681.3
458.5
457.0
3,865.6
541.0
671.7
516.4
442.6
3,903.2
494.2
676.5
476.8
445.3
3,884.4
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
84
Real GDP
(7)
Residual
(7-6)/7 %
(8)
3,733.3
3,691.0
3,712.2
-3.5
-5.7
-4.6
Graph: 23.3
PRESIDENCY OF PEDRO AGUIRRE CERDA, 1938-1941
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
4500
4000
Private Consumption (1)
3500
Government Consumption (2)
3000
Gross Fixed Capital Formation (3)
2500
Exports (4)
2000
1500
Imports (5)
1000
1+2+3+4-5
500
(6)
Real GDP (7)
0
Residual (7-6)/7 % (8)
1941
1940
1939
1938
-500
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
85
1942-1952
HEALTHY BUT CYCLICAL GROWTH
CONTRADICTORY, DESTABILIZING
REPERCUSSIONS OF THE RISE OF INTERVENTIONIST
COMPONENTS OF COLLECTIVE MARKETS
24
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
Collective markets experience continuous and substantial changes during the 1942-1946
presidency of Juan Antonio Ríos. Suspension of freedom of foreign trade and increasing regulatory
intervention in all domestic markets undermine civil society by reducing the satisfaction of the moral
collective need for economic freedom. Capital intensive investment projects by state-owned
corporations in steel, petroleum, energy, and so forth, strengthen the skilled middle classes without,
however, seriously daunting the pervasive problems of low productivity and poverty among urban and
rural unskilled workers and their families. The preferential treatment of the middle, educated classes, in
terms of compensation and educational, health and social security benefits, aggravates traditional
inequalities in the distribution of labor income. Members of powerful unions in protected, national and
foreign owned, activities, enter a privileged, high income class which excludes the majority of workers.
The relatively modest increases in income and labor productivity throughout the 1930-1973 era of
increasingly intervention-oriented collective markets, mask vast differences, both gains and losses,
within the broadly defined “labor class”. Furthermore, persistent Keynesian deficit spending policies
aggravate inflationary pressures, as the rate of growth of money supply regularly exceeds that of
productivity. As monetary policy is subordinated to the fiscal one, inflation endemically serves as an
instrument of income redistribution. Increasingly, throughout 1930-1973, the efficiency of moral
collective markets, as measured by the degree of satisfaction of the moral collective needs for economic
freedom, protection of life and private property, equal treatment by government and social harmony,
remains, or falls, significantly below the critical minimum level required to sustain civil society and
sharp, universal increases in labor productivity, income and good life.
86
Table: 24.1
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual
Real Aggregate Expenditure
Real Private Consumption and Investment
Rate of Growth (%)
Annual Rate of Growth (%)
Annual Rate of Growth (%)
4.6
2.7
4.2
2.9
1.1
-0.5
1.9
4.0
4.6
8.6
8.3
6.0
8.6
9.4
10.2
5.3
5.1
4.9
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1942
1943
1944
1945
1946
Average
Graph: 24.1
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
12.00
Real GDP Annual Rate of Growth (%)
10.00
8.00
6.00
Real Aggregate Expenditure Annual Rate of
Growth (%)
4.00
2.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
0.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
87
1946
1945
1944
1943
1942
-2.00
Table: 24.2
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
Agriculture
Mining
Manufacturing
Other Sectors
Government
Services
1942
3,862.3
262.2
565.5
609.0
2,425.7
276.8
398.1
1943
3,972.7
295.4
588.2
714.8
2,374.2
290.3
410.3
1944
4,047.6
312.0
587.9
713.8
2,433.9
295.3
494.3
1945
4,397.4
276.3
542.3
735.1
2,843.6
353.0
532.0
1946
4,773.8
327.4
625.4
744.8
3,076.3
348.2
684.2
Average
4,210.8
294.7
581.9
703.5
2,630.7
312.7
503.8
Construction
Commerce
Services
(Electricity,
Gas and
Water)
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 24.2
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
GDP by Sectors of Economic Activity
6,000.0
GDP
Agriculture
5,000.0
Mining
4,000.0
Manufacturing
Other Sectors
3,000.0
Government Services
2,000.0
Construction
1,000.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
88
1946
1945
1944
1943
1942
0.0
Services (Electricity, Gas and
Water)
Table: 24.3
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1942
1943
1944
1945
1946
Average
2,797.5
2,826.4
2,864.0
3,093.4
3,133.6
2,943.0
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
509.7
534.3
571.9
423.2
564.5
573.6
629.2
409.6
567.3
645.1
584.2
440.1
691.7
681.3
619.6
451.4
729.1
943.6
619.6
472.6
612.5
675.6
604.9
439.4
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
3,990.2
4,184.1
4,220.5
4,634.6
4,953.3
4,396.5
3,862.3
3,972.7
4,047.6
4,397.4
4,773.8
4,210.8
-3.3
-5.3
-4.3
-5.4
-3.8
-4.4
Graph: 24.3
PRESIDENCY OF JUAN ANTONIO RÍOS, 1942-1946
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
6,000.0
Private Consumption (1)
5,000.0
Government Consumption (2)
4,000.0
Gross Fixed Capital Formation (3)
3,000.0
Exports (4)
2,000.0
Imports (5)
1+2+3+4-5
1,000.0
(6)
Real GDP (7)
0.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
89
1946
1945
1944
1943
1942
-1,000.0
25
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
Collective markets are affected by two additional major events during the 1946-1952 presidency
of Gabriel González Videla. The moral collective needs for political freedom, equal treatment by
government and social harmony receive increased recognition and satisfaction as women are granted, in
1948, the right to vote, by Congress and González Videla. This marks an important ascending trend in
female political power and its use to satisfy moral collective needs. This trend culminates in the
election, in 2006, of Michel Bachelet to the presidency. Social harmony, political freedom, and equal
treatment are, however, weakened as González Videla persuades Congress to pass, also in 1948, the
Democracy Defense Law (Ley de Defensa de la Democracia) outlawing the Communist Party.
Table: 25.1
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual
Rate of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1946
8.6
9.4
10.2
1947
-10.8
-8.5
-9.3
1948
16.6
14.4
17.2
1949
-2.2
1.5
1.1
1950
4.9
3.4
3.8
1951
4.4
6.5
6.8
1952
6.4
6.2
4.7
4.0
4.7
4.9
Average
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
90
Graph: 25.1
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
5.00
Real Aggregate Expenditure Annual Rate of
Growth (%)
0.00
-5.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
-10.00
1952
1951
1950
1949
1948
1947
1946
-15.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Table: 25.2
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1946
1947
1948
1949
1950
1951
1952
Average
GDP
Agriculture
4,773.8
4,258.6
4,967.2
4,860.1
5,099.5
5,321.7
5,664.5
4,992.2
327.4
274.8
336.5
341.2
342.2
324.6
342.2
327.0
Mining
Manufacturing
Other Sectors
Government
Services
Construction
625.4
744.8
3,076.3
348.2
548.8
738.5
2,696.6
381.7
673.2
873.7
3,083.7
358.8
618.6
968.9
2,931.4
402.0
565.5
1,001.7
3,190.1
523.0
652.4
989.6
3,355.1
490.9
619.4
1,031.6
3,671.2
621.9
614.8
907.0
3,143.5
446.6
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
91
684.2
655.0
545.4
546.6
602.6
575.9
579.5
598.5
Commerce
Services
(Electricity,
Gas and
Water)
Graph: 25.2
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
GDP by Sectors of Economic Activity
6,000.0
GDP
5,000.0
Agriculture
Mining
4,000.0
Manufacturing
3,000.0
Other Sectors
2,000.0
Government Services
Construction
1,000.0
Commerce
Services (Electricity, Gas and
Water)
1952
1951
1950
1949
1948
1947
1946
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 25.3
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1946
1947
1948
1949
1950
1951
1952
Average
3,133.6
3,289.2
3,413.4
3,556.8
3,698.7
3,969.3
4,220.2
3,611.6
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
729.1
943.6
619.6
472.6
696.7
1,037.2
533.4
507.8
698.1
921.0
642.5
517.3
724.6
1,053.3
495.7
551.1
732.4
972.4
540.2
522.2
767.7
1,106.7
547.5
637.6
882.9
1,157.9
566.1
647.3
747.4
1,027.4
563.6
550.8
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
92
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
4,953.3
5,048.7
5,157.7
5,279.3
5,421.5
5,753.6
6,179.8
5,399.1
4,773.8
4,258.6
4,967.2
4,860.1
5,099.5
5,321.7
5,664.5
4,992.2
-3.8
-18.6
-3.8
-8.6
-6.3
-8.1
-9.1
-8.3
Graph: 25.3
PRESIDENCY OF GABRIEL GONZÁLEZ VIDELA, 1946-1952
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
7,000.0
Private Consumption (1)
6,000.0
Government Consumption (2)
5,000.0
Gross Fixed Capital Formation (3)
4,000.0
Exports (4)
3,000.0
Imports (5)
2,000.0
1+2+3+4-5
1,000.0
(6)
Real GDP (7)
0.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
93
1952
1951
1950
1949
1948
1947
1946
-1,000.0
1952-1964
MATURITY OF INTERVENTIONIST
STRUCTURALISM AS POVERTY, INEQUALITY,
LOW PRODUCTIVITY GROWTH AND INFLATION PERSIST.
WEAKENING OF CIVIL SOCIETY.
26
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
Each and all presidents, between 1930 and 1973, win short term battles but lose the war against inflation.
Its endemic and accelerating nature undermines the fabric of civil society by strengthening redistributive,
while weakening production, efforts. By the time of the Carlos Ibáñez del Campo presidency (1952-58),
the liberal elements of the collective markets, i.e. economic freedom, private property, equal treatment
and individual sovereignty, which the structuralist left holds responsible for underdevelopment, inequality
and poverty, have been largely crowded out by the new, favored by the structuralists, fundamentally antiliberal components of collective markets, i.e. controlled, protected, planned markets, state sovereignty and
ownership of corporations, and unequal treatment (promotion of import substituting industry and
discrimination of agriculture, exports, mining and banking) of activities. Ibáñez’s efforts to contain the
power of the privileged unionized segment of the labor force are symptomatic of the deep tensions and
conflicts that characterize Chile as, increasingly after 1930, the liberal components of collective markets
are repressed and replaced by anti-liberal, diriguista ones.
Table: 26.1
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
1952
1953
1954
1955
1956
1957
1958
Average
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
6.4
6.2
7.5
9.6
-3.2
-4.3
3.8
4.5
1.7
2.3
10.3
10.7
5.5
4.0
4.6
4.7
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
94
4.7
8.3
-4.0
4.0
3.5
11.5
2.8
4.4
Graph: 26.1
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
-2.00
-4.00
-6.00
Real GDP Annual Rate of Growth (%)
Real Aggregate Expenditure Annual Rate of
Growth (%)
1958
1957
1956
1955
1954
1953
1952
Real Private Consumption and Investment
Annual Rate of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Table: 26.2
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1952
1953
1954
1955
1956
1957
1958
Average
GDP
Agriculture
5,664.5
6,091.3
5,894.2
6,115.9
6,218.7
6,857.1
7,233.6
6,296.5
342.2
348.7
348.9
362.3
391.8
389.1
433.0
373.7
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
619.4
1,031.6
3,671.2
621.9
579.5
549.1
1,179.4
4,014.0
600.6
748.7
511.2
1,322.4
3,711.7
622.4
725.6
535.1
1,346.5
3,872.0
608.8
848.6
415.9
1,302.1
4,108.9
661.4
892.4
443.3
1,412.2
4,612.6
729.8
938.7
431.1
1,363.9
5,005.6
619.4
918.0
500.7
1,279.7
4,142.3
637.8
807.4
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
95
Commerce
Services
(Electricity,
Gas and
Water)
Graph: 26.2
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
GDP by Sectors of Economic Activity
8,000.0
GDP
7,000.0
Agriculture
6,000.0
Mining
5,000.0
Manufacturing
4,000.0
Other Sectors
3,000.0
Government Services
2,000.0
Construction
1,000.0
Commerce
1958
1957
1956
1955
1954
1953
1952
0.0
Services (Electricity, Gas and
Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 26.3
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1952
1953
1954
1955
1956
1957
1958
Average
4,220.2
4,335.1
4,590.5
4,408.6
4,433.5
5,065.6
5,151.7
4,600.7
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
882.9
1,157.9
566.1
647.3
1,032.5
1,169.5
445.3
653.2
971.6
1,133.0
510.9
643.9
1,037.9
1,311.9
571.2
753.2
999.4
1,249.8
528.0
753.4
1,063.1
1,429.5
559.1
835.8
1,180.7
1,406.9
586.2
774.9
1,024.0
1,265.5
538.1
723.1
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
96
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
6,179.8
6,329.2
6,562.1
6,576.4
6,457.3
7,281.5
7,550.6
6,705.3
5,664.5
6,091.3
5,894.2
6,115.9
6,218.8
6,857.1
7,233.6
6,296.5
-9.1
-3.9
-11.3
-7.5
-3.8
-6.2
-4.4
-6.6
Graph: 26.3
PRESIDENCY OF CARLOS IBÁÑEZ DEL CAMPO, 1952-1958
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
8,000.0
Private Consumption (1)
7,000.0
6,000.0
Government Consumption (2)
5,000.0
Gross Fixed Capital Formation (3)
4,000.0
3,000.0
Exports (4)
2,000.0
Imports (5)
1,000.0
1+2+3+4-5
0.0
(6)
1958
1957
1956
1955
1954
1953
1952
-1,000.0
Real GDP (7)
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
97
27
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
It is ironic that the first Agrarian Reform Law, which further weakens the sanctity of the private
property component of the liberal part of collective markets being victimized by the structuralist left, is
passed in 1962 during the conservative administration (1958-1964) of Jorge Alessandri Rodríguez, the
son of former President Arturo Alessandri. It is not surprising, however, since agrarian reform is strongly
advocated under the Alliance for Progress programs of the Kennedy Administration, which are being
offered to Alessandri. Alessandri greatly promotes social harmony through educational and housing
programs. His anti-inflationary program, however, collapses because of unsustainable twin budget and
trade deficits. The budget deficit is caused by increased government expenditures due to a disastrous
earthquake in the south in May 1960. The trade gap is caused, on the one hand, by a sharp increase in
imports due to domestic inflation, a fixed foreign exchange rate and trade liberalization, and, on the other
hand, by rigid export revenues and capital inflows.
Table: 27.1
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1958
5.5
4.0
2.8
1959
-5.7
-6.1
-7.5
1960
8.3
12.7
14.0
1961
4.8
5.8
7.0
1962
4.7
3.0
2.6
1963
6.3
5.9
7.1
1964
2.2
2.8
2.6
Average
3.7
4.0
4.1
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
98
Graph: 27.1
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
Real GDP Annual Rate of Growth (%)
15.00
10.00
Real Aggregate Expenditure Annual Rate of
Growth (%)
5.00
0.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
-5.00
1964
1963
1962
1961
1960
1959
1958
-10.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Table: 27.2
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1958
1959
1960
1961
1962
1963
1964
Average
GDP
Agriculture
7,233.6
6,823.9
7,381.0
7,743.4
8,110.3
8,623.4
8,815.3
7,818.7
432.9
442.1
402.7
396.4
374.9
396.7
397.3
406.1
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
431.1
1,363.9
5,005.6
619.4
918.0
479.3
1,417.1
4,485.4
650.3
787.7
525.6
1,548.9
4,912.8
750.8
865.6
577.8
1,664.0
5,105.2
742.0
796.5
623.6
1,821.1
5,290.8
762.3
1,021.6
630.6
1,892.8
5,703.3
753.6
1,270.9
669.9
1,988.9
5,759.2
820.3
1,116.5
562.6
1,671.0
5,180.3
728.4
968.1
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
99
Commerce
Services
(Electricity,
Gas and
Water)
731.2
806.0
821.8
846.0
866.1
814.2
143.7
152.6
168.1
184.2
193.7
168.5
Graph: 27.2
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
GDP by Sectors of Economic Activity
10,000.0
GDP
9,000.0
Agriculture
8,000.0
Mining
7,000.0
Manufacturing
6,000.0
Other Sectors
5,000.0
Government Services
4,000.0
Construction
3,000.0
Commerce
2,000.0
Services (Electricity, Gas
and Water)
1,000.0
1964
1963
1962
1961
1960
1959
1958
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 27.3
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1958
1959
1960
1961
1962
1963
1964
Average
5,151.7
5,099.6
5,550.0
5,868.6
6,108.3
6,365.8
6,327.1
5,781.6
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1,180.9
1,406.9
586.2
774.9
1,199.7
1,213.3
652.2
798.7
1,280.4
1,571.7
680.1
1,147.3
1,272.1
1,591.9
713.7
1,282.7
1,340.6
1,787.3
732.3
1,185.3
1,336.6
2,051.1
771.0
1,216.2
1,386.9
1,934.2
842.1
1,345.6
1,285.3
1,650.9
711.1
1,107.2
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
100
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
7,550.8
7,366.1
7,934.9
8,163.6
8,783.2
9,308.3
9,144.7
8,321.7
7,233.6
6,823.9
7,390.0
7,743.4
8,110.3
8,623.4
8,815.3
7,820.0
-4.4
-7.9
-7.4
-5.4
-8.3
-7.9
-3.7
-6.4
Graph: 27.3
PRESIDENCY OF JORGE ALESSANDRI RODRÍGUEZ, 1958-1964
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
10,000.0
Private Consumption (1)
8,000.0
Government Consumption (2)
Gross Fixed Capital Formation (3)
6,000.0
Exports (4)
4,000.0
Imports (5)
2,000.0
1+2+3+4-5
(6)
Real GDP (7)
0.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
101
1964
1963
1962
1961
1960
1959
1958
-2,000.0
28
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
1964-1970
FATIGUE OF STRUCTURALIST PARADIGM
DEAD END OF THE CHRISTIAN DEMOCRATIC MIDDLE ROAD
WEAKENING CIVIL SOCIETY PARALYZES PROCEDURAL DEMOCRACY
The recognition and satisfaction of the moral collective needs for economic freedom and private
property suffer a major blow in 1967 when the Frei administration succeeds in passing an amended article
10.10 of the 1925 Constitution. The boundary of private property is both reduced and changed to an
extent that the “economic freedom of private property ownership” loses almost any form of constitutional,
legal protection. An open ended attack on private property is initiated under the wrong excuse that it
promotes good life: the “law” can “reserve for the state exclusive control” of property “declared of
primary importance for the economic, social or cultural life of the country…. encourage the convenient
distribution of property and the establishment of family-sized property units” (Article 10.10).
In the presidential election of 1958, when Jorge Alessandri narrowly defeats Salvador Allende, the
left-wing candidate, by 33,000 votes, Eduardo Frei, the Christian Democrat, registers more than 20
percent of the votes. On September 4, 1964, with support from the right-wing and radical parties, the
charismatic, elegant, benevolent, righteous, Frei, receives 56 percent of the vote, defeating Alleude, who
polls 36 percent, and Durán with 5 percent. Frei accelerates the process of wealth and income
redistribution through, among other, “Chileanization” of large-scale copper mining, expropriation of land,
unionization of campesinos (peasants) and widespread wage increases. Included among his major
accomplishments is a widespread improvement in all aspects of education: early childhood, elementary,
secondary, university, technical and adult.
Despite impressive public investments and modernization in all activities, the uncertainty and fear
caused by the sharply declining satisfaction of the moral collective needs for economic freedom and
private property have lasting negative effects on private saving, investment and overall production. Civil
society also suffers as social harmony is replaced by tensions and conflicts between, and within, the
beneficiaries and victims of coercive redistributional policies.
102
An ominous cloud of rising social and political polarization and weakening of the traditionally solid
foundations of procedural democracy, casts a dark shadow over Chile’s political and social landscape.
The moral coercive power of the state is slipping away from the hands of Frei and his administration. The
radicalized Christian Democratic Left deserts his party. Jacques Chonchol, the party’s left-wing leader, an
ardent enemy of economic freedom and private property, and adherent of Marxist principles of state
supremacy and control, takes the control of the party away from the followers of Frei. Chile’s Left, which
is emboldened by its redistributional gains, attributes Frei’s failures to his revolutionary timidity. Its
demands for complete state control and destruction of liberal civil society are advanced as non-negotiable.
The, deprived of its property and economic freedoms, victimized, Right, which is joined by the middle
classes, refuses to sign its own obituary and surrender. The seismic vibration of the collapsing civil
society edifice is undermining procedural democracy, the second pillar of sustainable democracy and
growth. Civil society (the bride) and procedural democracy (the groom) are growing weaker, apart and
asunder. The Christian Democratic slogan of “Revolution with Freedom” is being replaced by the epitaph
“Revolution without Freedom Means Catastrophe”.
Table: 28.1
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
1964
2.2
2.8
2.6
1965
0.8
0.5
-1.0
1966
11.2
15.3
16.2
1967
3.2
1.2
1.1
1968
3.6
4.5
4.5
1969
3.7
5.3
5.0
1970
2.1
1.9
1.1
Average
3.8
4.5
4.2
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
103
Graph: 28.1
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
18.00
16.00
Real GDP Annual Rate of Growth (%)
14.00
12.00
10.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
8.00
6.00
4.00
2.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
0.00
1970
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1969
1968
1967
1966
1965
1964
-2.00
Table: 28.2
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1964
1965
1966
1967
1968
1969
1970
Average
GDP
Agriculture
8,815.3
8,886.5
9,877.5
10,198.2
10,563.3
10,956.3
11,181.6
10,068.4
397.3
405.3
491.1
505.9
529.6
468.5
485.3
469.0
Mining
Manufacturing
Other
Sectors
Government
Services
Construction
669.9
1,988.9
5,759.3
820.3
1,116.5
611.9
2,076.3
5,792.7
863.8
1,062.8
637.5
2,338.0
6,410.9
911.2
1,010.3
652.8
2,405.0
6,634.5
937.8
1,026.5
681.4
2,482.9
6,869.4
941.8
1,109.6
697.9
2,549.5
7,240.4
951.3
1,214.0
677.3
2,600.0
7,419.0
965.1
1,281.0
661.2
2,348.7
6,589.5
913.0
1,117.2
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
104
Commerce
Services
(Electricity,
Gas and
Water)
866.1
819.5
965.2
1,001.0
1,024.4
1,086.0
1,069.8
976.0
193.8
202.6
219.7
231.8
230.4
237.6
250.2
223.7
Graph: 28.2
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
GDP by Sectors of Economic Activity
12,000.0
GDP
Agriculture
10,000.0
Mining
8,000.0
Manufacturing
6,000.0
Other Sectors
4,000.0
Government Services
2,000.0
Construction
Commerce
1970
1969
1968
1967
1966
1965
1964
0.0
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 28.3
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation, Exports
and Imports
Private
Consumption (1)
1964
1965
1966
1967
1968
1969
1970
Average
6,327.1
6,320.9
7,034.2
7,272.4
7,550.3
7,947.7
7,901.3
7,193.4
Government
Consumption (2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
1,386.9
1,934.2
842.1
1,345.6
1,518.3
1,817.4
835.0
1,316.4
1,678.2
1,875.8
868.4
1,793.8
1,706.6
1,915.9
896.8
1,628.6
1,782.2
2,097.2
915.0
1,776.1
1,906.0
2,203.0
947.5
2,025.4
2,018.5
2,345.1
967.1
2,044.5
1,713.8
2,026.9
896.0
1,704.3
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
105
1+2+3+4-5
(6)
Real GDP
(7)
Residual (76)/7 % (8)
9,144.7
9,175.2
9,662.8
10,163.1
10,568.6
10,978.8
11,187.5
10,125.8
8,815.3
8,886.5
9,877.5
10,198.2
10,563.3
10,956.3
11,181.6
10,068.4
-3.7
-3.2
2.2
0.3
-0.1
-0.2
-0.1
-0.7
Graph: 28.3
PRESIDENCY OF EDUARDO FREI MONTALVA, 1964-1970
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
12,000.0
Private Consumption (1)
10,000.0
Government Consumption (2)
8,000.0
Gross Fixed Capital Formation (3)
6,000.0
Exports (4)
4,000.0
Imports (5)
1+2+3+4-5
2,000.0
(6)
Real GDP (7)
0.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
106
1970
1969
1968
1967
1966
1965
1964
-2,000.0
29
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
THE RISE AND FALL OF SALVADOR ALLENDE
COLLAPSE OF STRUCTURALIST
AND MARXIST EXPERIMENTS
CRUMBLING CIVIL SOCIETY AND PROCEDURAL DEMOCRACY
Salvador Allende is an illustrious, active participant in the procedural democracy segment of the
collective markets. Among his numerous laurels, he is a founding member of the Socialist party in 1933,
serves as minister of health (1939-1942) in the Popular Front government of Pedro Aguirre Cerda, rises to
the presidency of the Senate (1965-1969), serves twice as secretary-general of the Socialist Party and
ascends to the presidency in his fourth candidacy in 1970.
Two fundamental aspects of the relationship between Allende and the collective markets play a
pivotal role in his comet-like rise and violent, lamentable, death during 1970-1973. The first is his
steadfast commitment to, as well as inability to control, a radical change in the content and orientation of
the collective markets.
Table: 29.1
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
2.1
1.9
1.1
1971
9.0
9.5
9.0
1972
-1.2
0.5
-0.5
1973
-5.6
-6.1
-7.7
Average
1.1
1.5
0.4
1970
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
107
Graph: 29.1
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
12.00
10.00
Real GDP Annual Rate of Growth (%)
8.00
6.00
4.00
2.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
0.00
-2.00
-4.00
-6.00
Real Private Consumption and Investment
Annual Rate of Growth (%)
-8.00
1973
1972
1971
1970
-10.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
According to the structuralist approach, which is, to various degrees, adopted by the governments
of Presidents Arturo Allessandri, Aguirre Cerda, Ríos, González Videla, Ibáñez del Campo, Jorge
Alessandri, and even Eduardo Frei Montalva, the state has a, complementary to the private sector, role.
There is a blurred vision of a balanced sharing of “individual and state” sovereignty. Collective markets
are being transformed to create an efficient private (individual) and state (collective) complementary
sovereignty, which is compatible, it is hoped, with both civil society and procedural democracy. In
contrast, the explicit goal of Allende, which is shared by the extreme left of the Christian Democrats, the
communists, and other left-wing parties, is to radically transform Chile’s mixed, “structuralist”, pre-1970,
collective markets by totally replacing all remaining liberal, private-and-individual-sovereignty based and
oriented segments by state-based and-oriented ones, to turn all collective market components into pure
Marxist, non-or anti-liberal ones.
The second aspect is an antinomy between his professed revolutionary goal of establishing a
Marxist collective market and the will of the people, the mandate of the electorate. As the candidate of the
Unidad Popular (Popular Unity, UP), a coalition of the Socialist, Communist and four non-Marxist
Parties, Allende comes first in the presidential elections of 1970, receiving 35.5 percent of the vote.
Former president Jorge Alessandri, the candidate of the right-wing National Party, comes second with
108
35.2 percent of the vote. Radomiro Tomic, the favorite of its center-left bloc, and candidate of the
Christian Democrats, receives 28 percent. The decision on the presidency goes to Congress because no
candidate scores an absolute majority. In Congress, Allende is elected president with the support of the
Unidad Popular and the Christian Democrats. Never, however, does Allende have a majoritarian, electoral
mandate. Furthermore, neither the Center nor the Right, which comprise more than half, and possibly
even two-thirds, of the Chilean electorate, are willing to accept this new, totalitarian, Marxist essence for
their collective markets.
Table: 29.2
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1970
1971
1972
1973
Average
GDP
Agriculture
11,181.6
12,183.0
12,035.2
11,365.4
11,691.3
485.3
476.5
441.3
395.9
449.8
Mining
Manufacturing
Other Sectors
Government
Services
Construction
677.3
2,600.0
7,419.0
965.1
1,281.0
718.0
2,953.0
8,035.4
999.4
1,282.4
691.1
3,019.1
7,883.7
1,032.6
1,031.9
675.0
2,785.7
7,508.8
1,057.2
918.1
690.4
2,839.5
7,711.7
1,013.6
1,128.4
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Commerce
1,069.8
1,238.9
1,285.8
1,204.0
1,199.6
Services
(Electricity,
Gas and
Water)
250.2
287.4
306.7
298.2
285.6
Graph: 29.2
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
GDP by Sectors of Economic Activity
14,000.0
GDP
12,000.0
Agriculture
10,000.0
Mining
Manufacturing
8,000.0
Other Sectors
6,000.0
Government Services
4,000.0
Construction
2,000.0
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
109
1973
1972
1971
1970
0.0
Services (Electricity, Gas and
Water)
Undeterred by the lack of an electoral mandate, Allende embarks on a broad redistributional
strategy. All foreign mining companies are expropriated. Agrarian reform and expropriation accelerates.
Most of the industry is nationalized. An attempt to control all media is only partially successful, as the
Right resists with financial support from the CIA. Hefty wage increases coupled with price controls
increase the purchasing power of both the working and middle classes. Whenever the state does not
nationalize fast enough, radical workers, students, and campesinos forcibly expel the owners, with the
consent of the government. The combination of a consumption extravaganza, output increases, and a
sharp decline in unemployment in 1971, temporarily increases the Popular Unity’s electoral support. It
also creates an illusion of permanent prosperity and euphoria among the poor and the suspicious middle
classes. The ensuing decline, however, in private saving and investment in mining, industry and
agriculture, the exhaustion of inventories, capital flight, the exodus of skilled entrepreneurial labor, urban
and rural unrest, subordination of monetary to fiscal policy, and rigid foreign credits, contribute, to output
shortfalls, the worst inflation in the annals of the history of Chile and an ominous escalation in social
unrest and conflict.
With their very existence and survival subject of terminal threat, the Christian Democrats and the
National Party form the Democratic Confederation (Confederación Democrática), or CODE. With their
combined votes they have the power to block extremist legislation of the Unidad Popular. Attempts by
Allende and CODE to place limits on the expropriation of private property are, however, blocked by the
radical Left. The paralyzed procedural democracy is further subverted as collective markets are penetrated
by the anarchist fringes of the extreme Left and Right. As 1972 progresses, the economy is increasingly
crippled as fear, uncertainty, shortages, and speculation lead to strikes, riots, and arrests by, or of, retail
merchants, truckers, shop and factory owners, lawyers, doctors, architects, and other middle class
professionals, as well as agricultural cooperatives.
110
Table: 29.3
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1970
1971
1972
1973
Average
7,901.3
8,941.0
9,630.9
8,998.0
8,867.8
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
2,018.5
2,345.1
967.1
2,044.5
2,269.3
2,290.8
975.0
2,219.0
2,398.2
1,830.5
827.7
2,289.0
2,440.0
1,720.2
850.8
2,165.0
2,281.5
2,046.7
905.2
2,179.4
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
11,187.5
12,257.1
12,398.3
11,844.0
11,921.7
11,181.6
12,183.0
12,035.2
11,365.4
11,691.3
-0.1
-0.6
-3.0
-4.2
-2.0
Graph: 29.3
PRESIDENCY OF SALVADOR ALLENDE, 1970-1973
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
14,000.0
Private Consumption (1)
12,000.0
Government Consumption (2)
10,000.0
Gross Fixed Capital Formation (3)
8,000.0
Exports (4)
6,000.0
Imports (5)
4,000.0
1+2+3+4-5
(6)
2,000.0
Real GDP (7)
0.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
111
1973
1972
1971
1970
-2,000.0
By the middle of 1973, Chile is ravaged by destructive centrifugal forces unleashed by the final
opening of a Pandora’s Box of more, anarchic, uncontrollable, government intervention. Despite, or
possibly because of, ever more complex, extensive, government intervention in all sectors and activities
from the desert of the North to the Patagonian pampas, Chile suffers from stagnation in output,
hyperinflation, misallocation of resources, expanding poverty, excessive protection and barriers to trade,
panic due to food and other consumer goods shortages, hoarding and black markets, collapse in civil order
bordering on civil war, and an ominous malaise and anarchy. Armed revolutionary groups fill the
increasing vacuum created by the failure of Allende and the opposition to agree on a mutually acceptable
transformation of the collective markets, the constitution and the economic structure. Signs of impending
civil war multiply as the uncompromising Left pursues the goal of, and the extreme Right desperately
fights against, immediate, complete suspension of all aspects of liberal society and establishment of a
Totalitarian Marxist State.
As disintegration and chaos of civil society increasingly engulf procedural democracy, the
military, with the consent, even prodding, of the center-right coalition, put a violent end to the
structuralist, as well as the incomplete Allende Marxist, experiments. Salvador Allende, nevertheless,
makes a priceless contribution to future generations of Chileans. By severing, through his expropriations,
the last reactionary links of Chile’s collective market umbilical cord to its colonial past, he enables
Pinochet and the democratic presidents who follow him, to use the power of the state to serve the people
rather than the crown, a caudillo, an elite, or the state itself. As post 1973 unencumbered governments are
free to satisfy the moral collective needs of all people, first civil society, and subsequently also procedural
democracy, blossom. Allende’s failed quest of the utopian dream of a Marxist paradise, removes the last
obstacles to the creation of the moral, liberal, collective markets which he had so ardently sought to
destroy.
112
PART III
1973-2010
SUSPENSION AND RECOVERY OF PROCEDURAL DEMOCRACY
RESTORATION OF LIBERAL COLLECTIVE MARKETS
AND CIVIL SOCIETY AND SPECTACULAR GROWTH
1973-1990
30
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET
UGARTE, 1973-1990
THE AGE OF PINOCHET: SUSPENSION OF PROCEDURAL
DEMOCRACY AND AUTHORIATARIAN RECONSTRUCTION
OF A LIBERAL CIVIL SOCIETY
DECLINE AND GROWTH OF LABOR PRODUCTIVITY AND INCOME
The widening, as well deepening, post 1970 clash between the Marxist-Socialist, revolutionary,
anti-capitalist Left and the anti-Marxist, anti-totalitarian, anti-statist Right, is brought to an end on
September 11, 1973, when the Military suspend the last vestiges of procedural democracy and embark on
an unprecedented restructuring of collective markets. Augusto Pinochet Ugarte, who was a member of
Allende’s government, commander in chief of the armed forces and head of the military junta, plays a
pivotal role in the revolt against Allende, the closing of congress and the banishment of Socialist and
Marxist parties. As president of Chile from 1974 to 1990, Pinochet provides unprecedented continuity and
stability through liberal, production and accumulation centered, rather than coercive, redistribution
focused policies. As during the 1800-1930 and 1930-1973 periods, labor productivity, income growth and
international trade mirror, and are intimately affected by, the changing nature of collective markets. A
strong recession during 1972-1975, and a milder one during 1982-1983, are followed by a prolonged
recovery extending into the era of post-1990 democratic presidencies.
The metamorphosis of Chilean collective markets by the military, under the aegis of General
Augusto Pinochet Ugarte, arguably the most powerful personality in Chilean history, is as unexpected as
113
it is profound. Never before in Chilean history have collective markets been transformed as rapidly and as
drastically as during the Pinochet Presidency.
Table: 30.1
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE, 1973-1990
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
Average
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
-5.6
-6.1
1.0
-1.6
-12.9
-19.1
3.5
1.0
9.9
13.1
8.2
9.3
8.3
10.0
7.9
9.1
6.2
10.9
-13.6
-21.1
-2.8
-6.2
5.9
7.8
2.0
-2.1
5.6
5.0
6.6
8.5
7.3
7.4
10.6
12.0
3.7
2.9
2.9
2.3
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
-7.7
-4.3
-21.4
1.3
16.0
10.0
10.2
13.6
13.9
-24.6
-7.3
10.0
-3.2
5.9
11.0
8.2
13.6
3.3
2.7
Graph: 30.1
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE,
1973-1990
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
20.00
15.00
10.00
5.00
0.00
-5.00
-10.00
-15.00
-20.00
-25.00
-30.00
Real GDP Annual Rate of Growth
(%)
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and
Investment Annual Rate of Growth
(%)
Restoration of fundamental, broken pillars of civil society becomes the first goal of the military.
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
Their physiocratic emphasis on the recognition and satisfaction of the moral collective need for economic
114
freedoms, i.e. liberalization, leads to policies eliminating almost all pre-1973 obstacles to free trade in the
internal and external markets for final as well as intermediate agricultural, industrial, mining, and service
commodities and their value added components, factor services and labor and property endowments.
Furthermore, adoption of the Aristotelian-Lockian, sanctity of private property, principle, leads to the
recognition and satisfaction of the, complementary to freedom, moral collective need for safety, security,
and protection of private property, i.e. privatization, an anathema to the Marxist dogma of private
property extinction, which was lionized during the Allende regime. With the exception of the Large Scale
Copper Mining corporations, all state owned financial and non-financial corporations are returned to
private ownership and/or control. The speed and amplitude in the production, by the military government,
of the collective services satisfying the moral collective needs for economic freedom and private property
is almost without precedent.
Table: 30.2
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE, 1973-1990
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
Average
GDP
Agriculture
11,365.4
11,476.2
9,994.6
10,346.2
11,366.2
12,300.2
13,318.9
14,377.0
15,270.1
13,195.2
12,825.5
13,580.4
13,847.7
14,622.6
15,584.9
16,720.7
18,493.9
19,172.9
13,769.9
395.9
501.7
526.0
510.5
563.5
536.1
566.2
586.4
602.7
593.0
574.4
622.8
667.1
712.9
781.2
879.9
927.3
1,013.4
642.3
Mining
Manufacturing
Other Sectors
Government
Services
Construction
675.0
2,785.7
7,508.8
1,057.2
918.1
824.7
2,714.6
7,435.2
1,141.6
1,159.1
731.9
2,023.3
6,713.4
1,162.9
857.3
821.1
2,145.0
6,869.5
1,231.2
715.5
843.6
2,327.1
7,632.0
1,253.3
709.4
857.0
2,542.8
8,364.4
1,214.8
766.6
903.0
2,743.7
9,105.9
1,200.3
949.5
949.8
2,913.1
9,927.7
1,161.9
1,176.6
1,022.9
2,987.7
10,656.9
1,141.0
1,425.1
1,089.6
2,361.6
9,151.1
1,111.3
1,089.5
1,066.8
2,434.7
8,749.6
1,129.1
933.0
1,125.2
2,651.2
9,181.2
1,110.1
953.9
1,161.8
2,722.4
9,296.3
1,116.1
1,121.6
1,172.5
2,929.9
9,807.3
1,140.1
1,230.9
1,168.6
3,084.5
10,550.6
1,121.2
1,343.5
1,260.1
3,356.3
11,224.5
1,126.3
1,458.8
1,358.3
3,723.8
12,484.4
1,122.7
1,621.3
1,370.9
3,760.6
13,028.0
1,135.7
1,783.8
1,022.4
2,789.3
9,315.9
1,148.7
1,123.0
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
115
Commerce
Services
(Electricity,
Gas and
Water)
1,204.0
967.2
801.7
821.7
1,025.4
1,230.7
1,366.6
1,535.3
1,647.6
1,340.9
1,325.7
1,368.4
1,286.5
1,352.7
1,500.1
1,579.7
1,829.5
1,914.0
1,338.8
298.2
313.8
302.0
319.6
338.0
360.7
385.3
404.7
413.0
413.2
430.4
461.0
478.6
507.9
535.6
565.8
521.5
476.0
418.1
Graph: 30.2
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET
UGARTE, 1973-1990
25,000.0
GDP
GDP by Sectors of Economic Activity
20,000.0
Agriculture
15,000.0
Mining
Manufacturing
10,000.0
Other Sectors
5,000.0
Government Services
0.0
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
Construction
Commerce
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Peace, order, growth, economic freedom, private property and social harmony, remain vulnerable,
however, as long as inflation, that endemic, almost genetic, Chilean scourge, is not eradicated.
Accordingly, average price stabilization, the third complementary pillar of the neo-liberal experiment, is
forcefully pursued through a constitutionally guaranteed independence of the Central Bank, elimination of
dominance of fiscal over monetary policy, and a decisive expulsion of public sector budget deficits.
The spectacular recovery and enrichment of the economic freedom and private property
components of collective markets is, however, in stark contrast to the dark backsliding in the political
freedom, universal security of life and social harmony segments. The brutal treatment of actual, or
perceived, enemies of law, order, and the regime, and the relative neglect, and inadequate access, of lower
income strata, to health, education, and welfare services and employment opportunities, leave permanent
stigmata on the monumental reconstructive legacy of Pinochet.
116
Table: 30.3
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE, 1973-1990
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Government
Consumption
(2)
Private
Consumption (1)
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
Average
8,998.0
7,353.8
6,513.9
6,530.4
7,575.8
8,146.2
8,674.8
9,275.3
10,517.1
8,965.8
8,451.8
8,504.9
8,421.5
8,852.5
9,492.4
10,159.6
11,190.4
11,435.7
8,836.7
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
2,440.0
1,720.2
850.8
2,165.0
2,674.3
2,049.0
1,241.8
2,237.9
2,399.1
1,582.4
1,270.9
1,372.5
2,396.5
1,348.0
1,580.6
1,431.5
2,488.7
1,556.2
1,768.4
1,940.1
2,657.0
1,826.6
1,966.3
2,280.7
2,900.2
2,134.4
2,244.4
2,797.5
2,665.4
2,601.9
2,565.3
3,321.3
2,581.5
3,038.0
2,335.7
3,843.0
2,533.9
1,874.4
2,445.8
2,485.0
2,503.2
1,592.5
2,448.3
2,040.5
2,483.0
1,892.7
2,504.1
2,309.1
2,548.1
2,081.5
2,811.6
2,070.7
2,575.8
2,131.8
3,095.5
2,234.3
2,509.4
2,599.0
3,300.1
2,645.8
2,599.5
2,966.7
3,673.6
2,986.9
2,697.3
3,855.8
4,273.6
3,733.7
2,719.6
3,971.8
4,636.2
3,944.9
2,576.3
2,267.9
2,500.7
2,546.7
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
11,844.0
11,081.0
10,393.8
10,424.0
11,449.0
12,315.4
13,156.3
13,786.6
14,629.3
13,334.9
12,955.3
13,075.6
13,792.0
14,421.3
15,255.1
16,412.5
18,283.4
18,818.4
13,634.9
11,365.4
11,476.2
9,994.6
10,346.2
11,366.2
12,300.2
13,318.8
14,377.0
15,270.1
13,195.2
12,825.5
13,580.4
13,847.7
14,622.6
15,584.9
16,720.7
18,493.9
19,172.9
13,769.9
-4.2
3.4
-4.0
-0.8
-0.7
-0.1
1.2
4.1
4.2
-1.1
-1.0
3.7
0.4
1.4
2.1
1.8
1.1
1.8
0.8
Graph: 30.3
TWO-TERM PRESIDENCY (MILITARY DICTATORSHIP) OF AUGUSTO PINOCHET UGARTE,
1973-1990
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
Private Consumption (1)
25,000.0
20,000.0
Government Consumption (2)
15,000.0
Gross Fixed Capital Formation
(3)
Exports (4)
10,000.0
5,000.0
Imports (5)
0.0
1+2+3+4-5
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
117
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
-5,000.0
Real GDP (7)
(6)
The contribution of Pinochet and the military to Chile’s 1974-2006 exceptionalism can be
summarized as follows: by replacing the Hegelian-Marxist-Allende principle that the “Individual exists to
serve the state”, i.e. state sovereignty, by the moral collective markets principle that “The state exists to
serve the (needs of the) individual”, i.e. individual sovereignty, they unleash the forces that rejuvenate
civil society during 1974-2006, and procedural democracy during 1990-2006, thus facilitating their
ultimate convergence. This radical economic transformation of collective markets explains the
phenomenal, continuous improvement in opportunities to attain a good life open to Chileans, especially
after 1990.
1990-2006
PHENOMENAL RISE IN LABOR PRODUCTIVITY, INCOME AND EXPORTS
GRADUAL RESTORATION OF PROCEDURAL DEMOCRACY (CHANGE) AND FURTHER
ADVANCE IN CIVIL SOCIETY (CONTINUITY)
THE GROOM (PROCEDURAL DEMOCRACY) MEETS THE BRIDE (CIVIL SOCIETY)
The 1973-2006 age of Chilean collective market exceptionalism is defined, on the one hand, by
the recognition of both Pinochet and the democratic Presidents Aylwin, Frei, Lagos and Bachelet, of the
golden rules of sustainable democracy and growth. All, either explicitly or tacitly, fully concede that there
can be no sustainable democracy and growth, unless there exists both civil society and procedural
democracy. They also realize that, unless all seven moral collective needs are satisfied, neither civil
society and procedural democracy, nor sustainable democracy and growth, can be earned. The
exceptionalism of 1973-2006, is also, on the other hand, however, above all, the consequence of the
complementary roles played, first, by Pinochet and military authoritarianism in partially restoring liberal
civil society during 1973-1989, and, subsequently, second by the democratic presidents Aylwin, Frei,
Lagos, and Bachelet in restoring procedural democracy and extending the liberal civil society during
1990-2006.
Without the unwavering commitment of Pinochet to use the power of the state to satisfy the moral
collective needs for economic freedom and private property, civil society and economic prosperity could
have never attained the splendid 1990-2006 levels. Furthermore, once the basic, economic freedom, and
sanctity of private property, collective needs are satisfied, and law and order are reestablished, irresistible
pressure arises to satisfy the partially or totally neglected collective needs for safety of life, political
freedom, equal treatment by government, social harmony, and environmental protection, which also form
indispensable pillars of sustainable democracy and growth. Presidents Aylwin, Frei, Lagos and Bachelet
118
use the power of the state to expand the frontiers of the collective markets bequeathed to them by
Pinochet by increasing the degree of satisfaction of all seven moral collective needs. As true statesmen
(women), they continue nourishing the already healthy segments of collective markets, while also
fortifying the neglected, but nevertheless, necessary, pillars of political freedom, social harmony, equal
treatment by government, protection of life and environmental sanctity.
In the tradition of Portales and Ibáñez, Pinochet and the military assume the responsibility of
delivering a partially reconstructed liberal civil society, even if it carries the price of suspending
democracy. To the military, the benefits of preventing totalitarianism exceed the formidable human and
social costs of their intervention. On the other side, controlling powerful sentiments of revenge and
retribution, Democratic presidents Patricio Aylwin, Eduardo Frei Ruíz-Tagle, Ricardo Lagos and
Michelle Bachelet assume the responsibility of carefully restoring the banished flame of political freedom
and procedural democracy. They also do embrace the liberal civil society improvements of the 1974-1990
era, and consistently carry the satisfaction of almost all moral collective needs to new heights. Although
hardly complete, the remarkable convergence of procedural democracy and civil society during 19902006 is unique in the annals of Chilean and Latin American economic, social and political history.
119
31
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
The presidency (1990-1994) of Christian Democrat Patricio Alywin Azócar emerges as a unique
landmark in the history of the Chilean economy and collective markets. Having been delivered an
unparalleled, though incomplete, civil society structure by Pinochet, Aylwin carries the torch of political,
economic, and social progress to all regions and people. The suspended by the military, irreplaceable,
pillar of procedural
Table: 31.1
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
3.7
2.9
8.0
6.7
12.3
13.9
7.0
9.5
7.9
7.5
7.8
8.1
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
1990
1991
1992
1993
1994
Average
3.3
7.2
15.3
10.3
8.3
8.9
Graph: 31.1
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate of Growth (%)
Real Aggregate Expenditure Annual Rate
of Growth (%)
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
120
1994
1993
1992
1991
Real Private Consumption and Investment
Annual Rate of Growth (%)
1990
18.00
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
Table: 31.2
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
1990
1991
1992
1993
1994
Average
GDP
Agriculture
19,172.9
20,700.7
23,242.0
24,868.7
26,829.6
22,962.8
1,013.4
1,026.0
1,141.4
1,172.2
1,242.2
1,119.0
Mining
Manufacturing
Other Sectors
Government
Services
Construction
Commerce
Services
(Electricity,
Gas and
Water)
1,914.0
2,098.1
2,466.5
2,645.5
2,781.1
2,381.0
476.0
604.3
771.0
808.4
858.6
703.7
1,370.9
3,760.6
13,028.0
1,135.7
1,783.9
1,540.7
3,961.3
14,172.6
1,154.6
1,756.6
1,518.5
4,413.4
16,168.7
1,188.2
1,996.5
1,516.1
4,733.6
17,446.8
1,210.2
2,465.0
1,650.9
4,926.9
19,009.6
1,223.4
2,438.9
1,519.4
4,359.2
15,965.1
1,182.4
2,088.2
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
Graph: 31.2
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
GDP by Sectors of Economic Activity
30,000.0
GDP
Agriculture
25,000.0
Mining
20,000.0
Manufacturing
Other Sectors
15,000.0
Government Services
10,000.0
Construction
Commerce
5,000.0
Services (Electricity, Gas and
Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
121
1994
1993
1992
1991
1990
0.0
Table: 31.3
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1990
1991
1992
1993
1994
Average
11,435.6
12,450.0
14,166.9
15,219.2
16,463.6
1,3947.1
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
2,719.6
3,971.8
4,636.2
3,944.9
2,816.9
3,940.5
5,218.0
4,229.4
2,974.5
4,885.0
5,937.3
5,150.5
3,102.7
5,786.8
6,149.9
5,872.8
3,162.9
6,140.7
6,862.0
6,470.9
2,955.3
4,945.0
5,760.7
5,133.7
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
18,818.3
20,196.0
22,813.2
24,385.8
26,158.3
22,474.3
19,172.9
20,700.7
23,242.0
24,868.7
26,829.6
22,962.8
1.8
2.4
1.8
1.9
2.5
2.1
Graph: 31.3
PRESIDENCY OF PATRICIO AYLWIN AZÓCAR, 1990-1994
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross
Fixed Capital Formation, Exports and Imports
30,000.0
Private Consumption (1)
25,000.0
Government Consumption (2)
20,000.0
Gross Fixed Capital Formation
(3)
Exports (4)
15,000.0
Imports (5)
10,000.0
1+2+3+4-5
(6)
Real GDP (7)
5,000.0
Residual (7-6)/7 % (8)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
122
1994
1993
1992
1991
1990
0.0
democracy is gradually and cautiously restored by satisfying the dormant moral collective need for
political freedom. In addition, the historically unprecedented, high degree of satisfaction, by the Pinochet
government, of the moral collective needs for economic freedom, private property and equal treatment by
government is further improved by Aylwin, heralding unprecedented economic, social, and political
prosperity.
123
32
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
As the collective needs for economic freedom and security of private property are satisfied, the
aggregate propensity to save (percentage of total income saved) as well as the investment coefficient
(percentage of investment in total output and expenditure) rise to historically unmatched levels.
Table: 32.1
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate
of Growth (%)
1994
1995
1996
1997
1998
1999
2000
Average
Real Aggregate Expenditure
Annual Rate of Growth (%)
Real Private Consumption and Investment
Annual Rate of Growth (%)
7.9
7.5
8.4
11.8
7.4
7.5
6.6
7.2
3.2
3.7
-0.8
-5.8
4.5
6.0
5.3
5.4
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
8.3
12.8
7.9
7.4
3.9
-6.7
6.3
5.7
Graph: 32.1
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
15.00
Annual Rates of Growth of Real GDP, Real Aggregate Expenditure, Real Private Consumption and Investment
Real GDP Annual Rate of Growth (%)
10.00
5.00
Real Aggregate Expenditure Annual Rate
of Growth (%)
0.00
Real Private Consumption and
Investment Annual Rate of Growth (%)
-5.00
Reference: Cap 2_0 Series: Sheet GA Real; [RAECI. (Pp. 135-139)]
Source: Diaz-Lüders-Wagner (2005:135-139)
124
2000
1999
1998
1997
1996
1995
1994
-10.00
Table: 32.2
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
GDP by Sectors of Economic Activity (Billions of 1996 Chilean Pesos) Agriculture, Mining, Manufacturing, Other
GDP
1994
1995
1996
1997
1998
1999
2000
Averag
e
26,829.
6
29,084.
5
31,237.
3
33,300.
7
34,376.
6
34,115.
0
35,646.
5
32,084.
3
Mining
Manufacturin
g
Other
Sectors
Government
Services
Constructio
n
Commerc
e
Services
(Electricity,
Gas and
Water)
1,242.2
1,650.9
4,926.9
19,009.6
1,223.4
2,438.9
2,781.1
858.6
1,306.3
1,804.9
5,298.0
20,675.2
1,240.6
2,680.8
3,174.8
924.1
1,323.5
2,089.4
5,468.3
22,356.0
1,257.6
2,911.7
3,477.2
889.4
1,345.5
2,325.1
5,727.1
23,903.1
1,276.1
3,094.2
3,739.9
963.0
1,412.5
2,517.7
5,595.4
24,851.0
1,295.4
3,152.3
3,872.6
1005.5
1,401.5
2,784.3
5,566.7
24,362.5
1,314.1
2,841.0
3,700.8
957.7
1,485.9
2,873.6
5,840.2
25,446.7
1,334.0
2,820.9
3,862.8
1048.8
1,359.6
2,292.3
5,488.9
22,943.4
1,277.3
2,848.5
Reference: Cap1_0 Series. Sheet1: Real GDP by SEA. Pp. 28-35
Source: Díaz- Lüders-Wagner (2005:28-35)
3,515.6
949.6
Agricultur
e
Graph: 32.2
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
GDP by Sectors of Economic Activity
40,000.0
GDP
35,000.0
Agriculture
30,000.0
Mining
25,000.0
Manufacturing
20,000.0
Other Sectors
15,000.0
Government Services
10,000.0
Construction
Commerce
5,000.0
2000
125
1999
1998
1997
1996
1995
1994
0.0
Services (Electricity, Gas
and Water)
Reference: Cap 1_0 Series: Sheet PIBRealporActividad; [GDP by SEA (Pp. 28-35)]
Source: Diaz-Lüders-Wagner (2005:28-35)
Table: 32.3
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed Capital Formation,
Exports and Imports
Private
Consumption (1)
1994
1995
1996
1997
1998
1999
2000
Average
16,463.6
18,079.8
19,785.0
21,089.1
22,074.2
21,864.0
22,668.7
20,289.2
Government
Consumption
(2)
Gross Fixed
Capital
Formation (3)
Exports
(4)
Imports
(5)
3,162.9
6,140.7
6,862.0
6,470.9
3,294.9
7,556.8
7,614.8
8,091.6
3,426.1
8,240.7
8,520.5
9,047.9
3,623.8
9,109.9
9,474.8
10,240.9
3,705.3
9,280.7
9,970.4
10,929.0
3,805.6
7,588.2
10,700.4
9,887.5
3,918.0
8,260.1
11,243.6
10,881.6
3,562.4
8,025.3
9,198.1
9,364.2
Reference: Cap2_0 Series, Sheet2: GPIBReal. Pp. 121-127
Source: Díaz- Lüders-Wagner (2005:121-127)
1+2+3+4-5
(6)
Real GDP
(7)
Residual
(7-6)/7 %
(8)
26,158.3
28,454.7
30,924.4
33,056.7
34,101.6
34,070.7
35,208.8
31,710.7
26,829.6
29,084.5
31,237.3
33,300.7
34,376.6
34,115.0
35,646.5
32,084.3
2.5
2.2
1.0
0.7
0.8
0.1
1.2
1.2
Graph: 32.3
PRESIDENCY OF EDUARDO FREI RUÍZ-TAGLE, 1994-2000
Expenditure on GDP (Billions of 1996 Chilean Pesos) : Private Consumption, Government Consumption, Gross Fixed
Capital Formation, Exports and Imports
40,000.0
Private Consumption (1)
35,000.0
20,000.0
Government Consumption
(2)
Gross Fixed Capital
Formation (3)
Exports (4)
15,000.0
Imports (5)
30,000.0
25,000.0
10,000.0
1+2+3+4-5
(6)
5,000.0
Real GDP (7)
Reference: Cap 2_0 Series: Sheet GBIP Real; [AEGDP. (Pp. 121-127)]
Source: Diaz-Lüders-Wagner (2005:121-127)
126
2000
1999
1998
1997
1996
1995
1994
0.0
Residual (7-6)/7 % (8)
Furthermore, economic efficiency, as measured by the output-capital ratio (units of output
produced by a unit of capital) rises significantly, possibly from 1:7 to 1:3. That is, instead of requiring
seven units of capital to produce one unit of output, now, one unit of output can be produced with only
three units of capital. The rise in the propensity to save and in the output-capital ratio, lead to phenomenal
increase in growth rates, especially, early, during the Eduardo Frei Ruíz-Tagle (the son of Eduardo Frei
Montalva) presidency, but also throughout the 1973-2006 period. Frei carefully balances change and
continuity.
127
Presidency of Ricardo Lagos, 2000-2006
The Ricardo Lagos presidency (2000-2006) is also characterized by continued strengthening of
procedural democracy as well as civil society. Moral collective markets reach historically unmatched
levels of efficiency. The degree of satisfaction of the moral collective need for political freedom reaches
enviable levels both in absolute terms but also, especially, in comparison to the rest of Latin America.
Displaying impressive statesmanship, Lagos, a member of Salvador Allende’s administration, an exile
during the Pinochet government, a pivotal leader in the 1988 “NO” campaign, which successfully denies
Pinochet eight more years as president, and a member of the Socialist Party, uses the formidable power of
the state to improve the degree of satisfaction of the moral collective needs for economic, social and
political freedom, safety, security, and protection of life and private property, equal treatment by
government, social harmony and, to a lesser extent, environmental protection. The likelihood of Chile
attaining sustainable democracy and economic growth increases significantly during the Aylwin-FreiLagos presidencies. As the nation follows the golden rules of attaining both procedural democracy and
civil society, on the one hand, and satisfying all basic moral collective needs, on the other hand, its new
female, socialist, President, Michele Bachelet, inherits the leadership of a Chile lindo experiencing
remarkable price stability, improved output growth, a still unconformable level of inequality,
unemployment, and social exclusion, and a minerals-boom-propelled balance of payments bonanza.
128
PART III
TABLE 4
CHILE
PERCENTAGE RATES OF INCREASE OF GROSS DOMESTIC
PRODUCT AND EXPORTS PER CAPITA AND
ANNUAL RATES OF INFLATION, 1810-1995.
1810-1878
1.06
PERIODS
1880-1929 1890-1929 1890-1913 1938-1970 1946-1970 1978-1995 1810-1995
1. Percentage Rates of Increase of Gross Internal Product Per Capita
Annual Rate of Five-Year Average
1.58
1.24
1.37
1.85
1.54
2.95
1.40
Source: Lüders, 1997. Table 1, page 17.
2.51
2.71
0.49
4.59
2. Percentage Rates of Increase of Exports Per Capita
Average Annual Moving Rates of Five Years
1.79
1.95
-0.46
-0.70
Source: Lüders, 1997. Table 3, page 26.
6.59
2.33
3. Annual Percentage Rates of Inflation Between Periods
5.41
5.74
25.97
30.36
20.62
Source: Lüders, 1997. Table 2, page 22
18.55
129
TABLE 5
CHILE
TOTAL PRODUCT AND TOTAL PRODUCT PER CAPITA, 1810-1995.
Annual Rates of Growth by Period
TOTAL PRODUCT
PER CAPITA PRODUCT
1810-1995
3.03%
1.40%
1810-1860
1860-1940
1940-1995
2.57%
2.79%
3.80%
0.92%
1.37%
1.89%
1810-1820
1820-1830
1830-1840
1840-1850
0.47%
1.81%
3.30%
4.01%
-1.26%
0.13%
1.62%
2.37%
1850-1860
1860-1870
1870-1880
1880-1890
1890-1900
3.29%
3.29%
4.62%
2.67%
2.39%
1.75%
1.78%
3.00%
1.09%
1.22%
1900-1910
1910-1920
1920-1930
1930-1940
1940-1950
4.36%
0.35%
1.70%
2.98%
3.17%
3.09%
-0.94%
0.36%
1.42%
1.35%
3.78%
4.23%
2.55%
2.92%
8.69%
1.47%
1.94%
0.93%
1.22%
7.16%
1950-1960
1960-1970
1970-1980
1980-1990
1990-1995
Source: Díaz-Lüders-Wagner (1998:3).
130
TABLE 6
CHILE
SECTORAL PRODUCT, 1860-1995
Average Rates of Growth By Period
Mining
Manufacturing
Government
Product
Product
Services
3.00%
3.52%
3.72%
1860-1995
Agricultural
Product
2.31%
1860-1940
1940-1995
1.77%
3.10%
3.55%
2.19%
2.82%
4.55%
4.16%
3.10%
2.77%
4.15%
1860-1870
1870-1880
1880-1890
1890-1900
2.53%
2.67%
-3.87%
5.02%
2.65%
6.48%
8.15%
2.97%
3.98%
5.00%
2.97%
0.58%
6.26%
8.11%
5.49%
1.76%
3.45%
4.64%
2.31%
2.13%
1900-1910
1910-1920
1920-1930
1930-1940
1940-1950
2.38%
1.52%
3.26%
0.86%
2.16%
4.74%
1.18%
1.89%
0.60%
0.33%
2.85%
0.66%
1.89%
4.76%
8.12%
9.10%
-3.22%
-2.47%
9.07%
7.84%
4.51%
0.00%
1.48%
3.76%
2.22%
1950-1960
1.64%
-0.73%
1960-1970
1.93%
2.57%
1970-1980
2.24%
3.44%
1980-1990
6.02%
3.74%
1990-1995
6.35%
5.66%
Source: Díaz-Lüders-Wagner (1998: 4-5)
4.45%
5.32%
1.14%
2.59%
7.10%
4.32%
2.54%
1.87%
-0.23%
1.78%
4.96%
4.58%
3.10%
2.85%
10.52%
131
Rest
3.33%
1810-1820
1820-1830
1830-1840
1840-1850
TABLE 7
PER CAPITA PRODUCT
CHILE, SPAIN, MEXICO AND UNITED STATES, 1810-1995
IN DOLLARS OF 1995 (PPP1 1990), AVERAGES BY PERIOD
Chile
Spain
Mexico
United States
690
1,141
816
1,503
644
1,129
784
1,555
701
1,138
738
1,695
842
1,191
719
1,844
1850-1860
1860-1870
1870-1880
1880-1890
1890-1900
1,048
1,234
1,511
1,970
2,254
1,275
1,398
1,599
1,852
2,088
710
735
824
977
1,153
2,204
2,555
2,845
3,556
3,928
1900-1910
1910-1920
1920-1930
1930-1940
1940-1950
2,587
2,934
3,028
2,898
3,650
2,239
2,356
2,817
2,659
2,552
1,411
1,598
1,671
1,523
1,943
5,006
5,642
6,636
6,299
10,368
3,285
5,597
9,518
11,101
13,389
2,590
3,473
4,720
5,466
5,363
11,495
14,169
17,953
21,409
23,624
1950-1960
4,302
1960-1970
5,088
1970-1980
5,375
1980-1990
5,893
1990-1995
8,209
Source: Díaz-Lüders-Wagner (1998: 7)
1
PPP stands for purchasing power parity.
132
TABLE 8
CHILE
COMPOSITION OF FISCAL INCOME BY CATEGORY, 1833-1999.
DECENNIAL AVERAGES
EXPRESSED AS A PERCENTAGE OF TOTAL FISCAL INCOME
(A=A.1+ ..+A.3)
Tax Revenue
1833-1839
1840-1849
1850-1859
1860-1869
1870-1879
1880-1889
1890-1899
1900-1909
1910-1919
1920-1929
1930-1939
1940-1949
1950-1959
1960-1969
1970-1979
1980-1989
1990-1999
81.05
95.92
95.52
90.21
91.53
92.16
84.46
83.91
89.22
70.76
73.19
73.67
84.06
94.79
76.70
81.19
86.32
(A.1)
Taxes on
Natural
Mineral
Resources
0.00
0.00
0.00
7.62
5.15
35.03
52.97
50.35
49.50
28.13
13.78
18.81
17.52
13.10
5.30
10.96
8.15
(A.2) (A.3i +A.3ii)
Direct Indirect Taxes
Taxes
0.00
11.46
10.93
8.88
7.37
5.73
0.76
0.01
2.97
9.67
15.53
18.83
18.68
25.20
19.94
14.49
17.83
81.05
84.47
84.60
73.71
79.01
51.40
30.73
33.56
36.75
32.97
43.88
36.03
47.85
56.49
51.46
55.74
60.35
(A3i)
Internal
Indirect
Taxes
(A.3ii)
External
Indirect
Taxes
(B)
Non Tax
Income
(C)
Extraordinary
Income
21.14
26.98
22.91
22.15
22.68
7.88
0.86
2.07
7.75
9.49
13.87
17.82
33.20
41.51
42.23
47.82
50.86
59.91
57.49
61.69
51.56
56.33
43.51
29.88
31.49
29.00
23.48
30.01
18.21
14.66
14.98
9.23
7.92
9.49
18.95
4.08
4.48
3.84
6.39
7.84
5.90
5.83
7.51
9.04
14.80
11.76
4.84
5.03
22.96
18.81
13.68
0.00
0.00
0.00
5.95
2.07
0.00
9.64
10.26
3.27
20.20
12.00
14.58
11.10
0.18
0.33
0.00
0.00
Note: 1. Taxes on natural mineral resources correspond to those originating in Copper, Nitrate and
Iodine, Other Resources and the Difference in the Sale of Foreign Exchange.
2. Direct taxes include income taxes, property taxes and various taxes.
3. Indirect internal taxes include taxes on specific activities, taxes on services and taxes on legal
acts.
4. Indirect external taxes include import taxes and export taxes not included in category (1).
5. Non-tax income includes revenues from national property, national services, and various
revenues.
Source: Wagner, Gert, Jofré José and Rolf Lüders, (2000, 21).
133
TABLE 9
CHILE
FISCAL EXPENDITURE ACCORDING TO FUNCTIONS, 1833-1999
DECENNIAL AVERAGES EXPRESSED AS A PERCENTAGE OF TOTAL FISCAL EXPENDITURE
Total
Expenditure
(I+F-G+H)
1833-1839
1840-1849
1850-1859
1860-1869
1870-1879
1880-1889
1890-1899
1900-1909
1910-1919
1920-1929
1930-1939
1940-1949
1950-1959
1960-1969
1970-1979
1980-1989
1990-1999
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
(1)
A.
A.1
A.2
A.3
Total Central General Government Defense Justice
Government Functions
and
Expenditure
Security
(A+.+E)
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
105.07
115.61
110.09
104.32
106.76
110.81
114.32
111.32
100.00
96.98
91.06
94.09
94.14
87.34
68.05
62.18
69.03
74.89
66.98
63.85
55.31
46.85
47.59
27.93
22.89
58.60
56.86
54.09
59.55
70.52
51.50
33.19
36.89
42.35
46.60
37.90
35.81
35.71
33.17
29.23
6.11
4.50
41.40
35.43
31.85
30.38
20.51
32.80
31.03
21.84
23.34
25.55
25.47
25.05
17.82
11.93
16.70
19.60
15.73
B.
Social
Functions
B.1
Health
B.2
Housing
B.3
Social
Security
0.00
3.02
5.14
5.91
5.55
5.19
6.09
7.54
11.34
15.02
23.73
25.18
21.58
26.01
42.96
69.64
67.69
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.73
4.93
7.30
7.87
8.46
8.56
10.37
12.12
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2.10
5.39
4.36
5.74
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
9.20
30.35
0.00
4.69
5.12
4.16
3.11
3.05
3.83
3.45
3.35
2.74
3.60
2.99
1.77
1.75
1.67
2.22
2.65
134
B.4
B.5
B.6
Education Employment Other
Programs
0.00
2.61
5.14
5.91
5.55
5.19
6.09
7.54
11.34
13.47
17.19
16.20
13.00
14.97
14.11
12.25
15.28
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.29
0.12
0.00
0.41
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.82
1.61
1.68
0.70
0.48
14.90
33.18
4.08
Table 9 (continued)
Chile. Fiscal Expenditure According to Functions, 1833-1999
Decennial Averages
Expressed as a Percentage of Total Fiscal Expenditure
C.
Economic
Functions
1833-1839
1840-1849
1850-1859
1860-1869
1870-1879
1880-1889
1890-1899
1900-1909
1910-1919
1920-1929
1930-1939
1940-1949
1950-1959
1960-1969
1970-1979
1980-1989
1990-1999
0.00
0.00
3.80
0.00
0.31
5.96
25.84
27.78
19.15
6.10
11.14
12.30
22.92
33.90
20.26
13.38
15.36
C.1
Promotion
and
Regulation
of
Productive
Activities
0.00
0.00
0.00
0.00
0.31
0.60
0.71
0.77
0.33
1.03
11.12
6.29
10.02
20.49
10.48
8.01
8.31
C.2
Infrastructure
D.
Other
Non-Assignable
Expenditures
E.
Public
Debt
Interest
F.
Net Recovered
Loans
G.
Level
Adjustment
H.
Financial
Investment
0.00
0.00
3.80
0.00
0.00
5.36
25.13
27.01
18.81
5.07
0.02
6.00
12.90
13.41
9.79
5.37
7.05
0.00
0.00
0.00
0.00
0.00
1.51
0.02
2.50
0.48
9.07
13.76
8.76
4.51
0.00
0.00
0.49
0.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2.88
5.35
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1.98
-3.07
-0.67
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5.07
15.61
10.09
4.32
6.76
12.79
10.18
7.52
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-1.08
-3.13
Source: Wagner, Gert, Jofré José and Rolf Lüders, 2000, pp 27-2
135
TABLE 10
CHILE
ANNUAL PERCENTAGE RATES OF GROWTH OF FISCAL INCOME AND EXPENDITURE
TOTAL AND PER CAPITA BY PERIODS, 1833-1999
Fiscal Income
Fiscal Income
Per Capita
Fiscal
Expenditures
1833-1995
1833-1999
4.42
4.35
2.78
2.72
4.23
4.35
Fiscal
Expenditures
Per Capita
2.60
2.72
1833-1860
1860-1940
1940-1999
5.07
4.10
4.37
3.43
2.67
2.47
4.68
3.83
4.90
3.05
2.40
3.00
1833-1840
1840-1850
5.55
7.53
3.48
5.58
2.64
7.77
0.62
5.82
1850-1860
1860-1870
1870-1880
1880-1890
1890-1900
2.33
4.61
4.99
7.91
1.56
0.32
2.87
3.30
6.55
0.40
3.09
7.21
5.12
8.19
0.36
1.06
5.42
3.43
6.83
-0.79
1900-1910
1910-1920
1920-1930
1930-1940
1940-1950
4.26
-2.87
10.08
2.79
2.42
2.84
-3.92
8.55
1.17
0.99
5.38
-3.40
6.50
1.84
5.08
3.95
-4.44
5.03
0.24
3.62
1950-1960
1960-1970
1970-1980
1980-1990
1990-1999
5.55
6.12
6.59
0.07
5.77
3.21
3.80
4.90
-1.59
4.24
6.71
4.92
3.81
0.59
8.86
4.34
2.62
2.17
-1.08
7.29
Source: Wagner, Gert, Jofré José and Rolf Lüders, (2000: 37).
136
TABLE 11
CHILE
MAJOR ECONOMIC CRISES: 1833-1999
A COMPARISON WITH PER CAPITA FISCAL INCOME AND EXPENDITURES
Gross Internal Product
1861-1862
-2.1%
1876-1877
1883-1885
-7.2%
-6.0%
1896-1897
1899-1900
-3.9%
-4.0%
1914-1915
1926-1927
1930-1932
-20.3%
-12.3%
-46.5%
1964-1965
1972-1975
1982-1983
-1.8%
-23.3%
-18.8%
Percentage Reduction In
Fiscal Revenues
In Constant Prices
1838-1839
-15.9%
1853-1854
-16.0%
1861-1862
-19.4%
1870-1871
-21.2%
1876-1877
-25.5%
1884-1885
-24.8%
1897-1898
-13.6%
1900-1902
1908-1909
1913-1915
-13.4%
-13.0%
-45.2%
1929-1932
1936-1937
1949-1950
1953-1954
1963-1964
-67.3%
-13.2%
-21.8%
-21.2%
-5.0%
1982-1983
-25.4%
1998-1999
-8.7%
Source: Wagner, Gert, Jofré José and Rolf Lüders, (2000: 40).
137
Fiscal Expenditures
1838-1839
1852-1853
1860-1862
1868-1869
1875-1878
1884-1885
1892-1893
-22.5%
-11.0%
-32.6%
-14.7%
-32.1%
-27.6%
-42.8%
1899-1900
1902-1903
-7.2%
-15.7%
1913-1917
-55.0%
1931-1932
-55.1%
1963-1964
1975-1976
1982-1983
1985-1988
-13.4%
-18.9%
-10.0%
-18.1%
PART IV
Organization of the Mamalakis Collective Markets Indices
Table 12. The Mamalakis Index of Sustainable Democracy and Growth (SG). Chile, 1800-2005.
The values of Table 9 time series are the weighted average of the values of table 10 (25%) and Table 12
(75%) time series.
Table 13. The Mamalakis Index of Procedural Democracy (PD). Chile, 1800-2005. Weight 25%
Table 14. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Political Freedom (PF). Chile, 1800-2005. Weight 25%.
Table 15 The Mamalakis Index of Civil Society (CS). Chile, 1800-2005. Weight 75%.
Table 16. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Safety, Security and Protection of Life (SL). Chile, 1800-2005. Weight 12.5%.
Table 17. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Needs for Freedom (FR). Chile, 1800-2005. Weight 12.5%.
Table 18. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Safety, Security, and Protection of Private Property (PR), Chile, 1800-2005.
Weight 12.5%.
Table 19. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Equal Treatment by Government (ET). Chile, 1800-2005. Weight 12.5%.
Table 20. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Social Harmony (SH). Chile, 1800-2005. Weight 12.5%.
Table 21. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Environmental Protection (EP). Chile, 1800-2005. Weight 12.5%.
Some explanatory remarks may help the reader better understand the information found in the following
tables. In table 9, column (1) measures the percentage contribution of procedural democracy (and of the
political freedom index) to the aggregate index of sustainable democracy and growth. The maximum value of
column (1), Table 12, time series is, 25, since this is the percentage weight assigned to it. An actual value of 25,
in column (1), Table 12, would imply that one hundred percent of the moral collective need for political
freedom is satisfied. It would also imply that there exists maximum, or perfect, procedural democracy. A value
of zero in column (1) would imply either the existence of a pre-political state of nature in the tradition of
Hobbes, Locke, and Rousseau, or a tyrannical, totalitarian system with no political freedom whatsoever.
Column (2), in Table 12, measures the degree of existence of civil society as determined by the
weighted sum of the degree of satisfaction of the six moral collective needs underpinning civil society. The
maximum percentage contribution (value) of the CS index to the SG index is 75. An actual value of 75 would
reflect a perfect civil society attained when all six moral collective needs have been satisfied. A zero value in
138
column (2), Table 12, would reflect either a complete absence of even the most primitive features of civil
society and/or chaotic, or totalitarian, regimes engaged in unmitigated warfare, including genocide.
Column (3), Table 12, (the values of column (3) are the sum of the values of columns (1) and (2))
contains statistics which aim to provide a measure of the degree to which a country has reached the goal of
attaining sustainable democracy and growth (SG). The values of the time series of column (3), Table 12, can
range between zero and one hundred. A value of zero would reflect complete lack of both procedural
democracy and civil society. A value of 100 would represent the ideal state when both procedural democracy
and civil society have reached a point of perfection. Between the value of 0 and 100%, there obviously exists an
infinite number of combinations of procedural democracy and civil society. An SG value of less than 50%
would suggest an imminent, or actual, collapse and/or absence of procedural democracy, civil society, and
sustainable growth. An SG value of more than 50% would suggest that progress is being made in attaining
procedural democracy and/or civil society and sustainable growth. In order to better understand the historical
evolution of Chile, however, it will be necessary to also focus on the degree of satisfaction of each one of the
collective moral needs. This task is undertaken in the sections that follow.
139
TABLE 12
THE AGGREGATE MAMALAKIS INDEX OF SUSTAINABLE
DEMOCRACY AND GROWTH (SG):CHILE, 1800-2005
AN INDEX OF THE DEGREE OF SATISFACTION OF THE SEVEN
FUNDAMENTAL MORAL COLLECTIVE NEEDS (EXPRESSED AS A PERCENTAGE)
(1)
(2)
(3)
Year
Percentage contribution of Percentage Contribution
Aggregate SG Index
the Procedural Democracy of the Civil Society (CS)
(PD) Index to the SG Index
Index to the SG Index
(1)
(2)
(1)=(2)+(3)
1800
12
47
59
1810
12
49
61
1820
12
49
61
1830
12
50
62
1840
12
50
62
1850
12
49
61
1860
13
50
63
1870
12
50
62
1880
12
51
63
1890
12
51
63
1900
15
56
71
1910
15
55
70
1920
15
56
71
1930
15
55
70
1940
16.5
54
70.5
1950
16
53
69
1960
16
50
66
1970
10
28
38
1980
6
41
47
1990
19
64
83
2000
20
67
87
Note: The Mamalakis indices presented in this essay are relative in nature. They attempt to provide quantifiable measures
of the degree of satisfaction of the moral collective needs which are an integral part of civilized society. The indices can
have values ranging between zero and one hundred percent.
The first Mamalakis index is the Index of Sustainable Democracy, Civil Society, and Growth (SG). This index is
a composite one. It is the weighted average of the Mamalakis Indices of Procedural Democracy (PD) and Civil Society
(CS). The index of Procedural Democracy is given a weight of 25%. The Index of Civil Society has a weight of 75%. The
composite index (SG) embodies, reflects, and aims to provide a quantitative measure of, the two golden rules of
Mamalakis. One the one hand it, emphasizes the essential complementarity between procedural democracy and civil
society, i.e., the first golden rule of Mamalakis. Unless there exists both procedural democracy and civil society, there can
be neither sustainable democracy, nor sustainable growth. It also aims to emphasize the belief that civil society (with a
weight of 75%) is an even more important complementary pillar of sustainable growth than procedural democracy (with a
weight of 25%).
One the other hand, it stresses the principle that all moral collective needs underpinning civil society must be
satisfied. This is the second golden rule of Mamalakis. These moral collective needs are for safety, security, and
protection of life (SL) (Table 16 and 16 graph), for freedom (FR) (Table 17 and 17 graph), for safety, security, and
protection of private property (PR) (Table 18 and 18 graph), for equal treatment by government (ET) (Table 19 and 19
graph), for social harmony (SH) (Table 20 and 20 graph) and for environmental protection (EP) (Table 21 and 21 graph).
The six moral collective needs underlying civil society are as complementary to each other, as procedural democracy is
complementary to civil society.
140
Table 12 Graph.
The Mamalakis Index of Sustainable Democracy and Growth: Chile, 1800-2005
100
Index (in Percent)
90
80
70
60
Procedural Democracy
Index
50
Civil Society Index
40
Aggregate Index
30
20
10
0
141
In the case of Tables 13 and 14, the values of columns (1) and (2) are identical for the following
reason. Procedural democracy, which is measured in Table 13, conceptually differs from the moral
collective need for political freedom, the satisfaction of which is measured by the values found in Table
13. Since it is assumed, however, for simplicity purposes, that the degree of satisfaction of the moral
collective need for political freedom determines the degree of progress in achieving procedural
democracy, the values of columns (1) and (2) of Table 14 also become the values of columns (1) and (2)
of Table 13. The degree of procedural democracy, therefore, corresponds, and is equal to, the degree of
satisfaction of the moral collective need for political freedom.
TABLE 13
THE MAMALAKIS INDEX OF PROCEDURAL DEMOCRACY (PD): CHILE, 1800-2005
AN INDEX OF THE DEGREE OF SATISFACTION OF THE MORAL COLLECTIVE
NEED FOR POLITICAL FREEDOM (PF) EXPRESSED AS A PERCENTAGE
(1)
(2)
Year
Percentage Contribution of the PD Index of Degree of Satisfaction
Index to the SG Index
of the Moral Collective Need for
Political Freedom
(1)
(2)
1800
12
48
1810
12
48
1820
12
48
1830
12
48
1840
12
48
1850
12
48
1860
13
52
1870
12
48
1880
12
48
1890
12
48
1900
15
60
1910
15
60
1920
15
60
1930
15
60
1940
16.5
66
1950
16
64
1960
16
64
1970
10
40
1980
6
24
1990
19
76
2000
20
80
Note: The Mamalakis Index of Procedural Democracy aims to provide a quantifiable measure of who has
the coercive power of government.
142
Table 13. Graph.
The Mamalakis Index of Procedural Democracy: Chile, 1800-2005
Index (in Percent)
90
80
70
Percentage Contribution
of the PD Index to the
SG Index
60
50
Index of Degree of
Satisfaction of the Moral
Collective Need for
Political Freedom
40
30
20
10
0
Time
143
TABLE 14
THE MAMALAKIS INDEX OF THE DEGREE OF SATISFACTION OF THE
MORAL COLLECTIVE NEED FOR POLITICAL FREEDOM (PF)
CHILE, 1800-2005
EXPRESSED AS A PERCENTAGE
(1)
(2)
Year
Percentage Contribution of the PF Index of Degree of Satisfaction
Index to the SG Index
of the Moral Collective Need for
Political Freedom
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
12
12
12
12
12
12
13
12
12
12
15
15
15
15
16.5
16
16
10
6
19
20
48
48
48
48
48
48
52
48
48
48
60
60
60
60
66
64
64
40
24
76
80
Note: The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Political
Freedom (PF) aims to provide a quantifiable measure of the attainment of procedural democracy. The
degree of satisfaction of the moral collective need for political freedom is the sole direct determinant of
procedural democracy. It is assigned a weight of 25% in determining sustainable democracy and growth.
Thus, the sub-index of PF carries a weight of 25% in determining sustainable democracy, while the subindices of CS carry only 12.5% weight, or half of it, in contributing to sustainable democracy and growth.
144
TABLE 14 Graph
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Political Freedom: Chile, 1800-2005
90
Index (in Percent)
80
70
Percentage Contribution
of the PF Index to the
SG Index
60
50
40
30
Degree of Satisfaction
of the PF Need
20
10
0
Time
145
TABLE 15
CHILE
THE MAMALAKIS INDEX OF CIVIL SOCIETY (CS): 1800-2005
A COMPOSITE INDEX OF THE DEGREE OF SATISFACTION OF THE SIX FUNDAMENTAL MORAL
COLLECTIVE NEEDS UNDERPINNING CIVIL SOCIETY EXPRESSED AS A PERCENTAGE
(1)
Year
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
(2)
Index of the Composite Degree of
Percentage Contribution of the CS
Satisfaction of the Six
Index to the SG Index
Fundamental Moral Collective
Needs Underpinning Civil Society
35
47
37
49
37
49
38
51
38
51
37
49
37
49
38
41
38
41
39
52
41
54
40
53
41
54
40
53
38
51
37
49
34
45
18
24
35
47
45
60
47
62
Note: The Mamalakis Index of Civil Society hopes to provide a measure of how the power of the state is
exercised by its arm of general government. How means whether it is used to satisfy the moral and block
the immoral collective needs or vice versa.
The index of CS is the weighted average of the values assigned to the degree of satisfaction of the
six underlying moral collective needs. Each of the six moral collective needs is assigned a 12.5% weight
in determining the value of the composite CG, or one sixth of the 75% weight assigned to Civil Society. A
low index of CS can result from low values of all six underlying indices. Or, it can result from some high
and other low values. For example, a country can have a high value for the Security of Life index, e.g.
12%, but a very low, i.e., only 3%, for the freedom index. Such a country enjoys “order” but lacks
“freedom”, a combination acceptable to some while unacceptable to others. A strategy of creating
sustainable democracy and growth is viable and effective if it increases the degree of satisfaction of moral
collective needs with low values e.g. that for freedom, without reducing the degree of satisfaction of
moral collective needs with high values, e.g. security of life and private property which are often
described as “order”.
146
Table 15. Graph.
The Mamalakis Index of Civil Society (CS): Chile, 1800-2005
70
Index (in Percent)
60
Percentage Contribution
of the CS Index to the
SG Index
50
40
30
Index of the Composite
Degree of Satisfaction of
the Six Fundamental
Moral Collective Needs
Underpinning Civil
Society
20
10
0
Time
147
An explanation of the figures found in columns (1) and (2) of Tables 13-31 is necessary in
understanding their relevance and importance.
The figures found in column (2) provide an estimate of the degree of satisfaction of the
respective moral collective need. They always are expressed as percentages. For example, a value of
50 means that fifty percent of the corresponding moral collective need has been satisfied. The values
found in column (2) can range from zero (no satisfaction) to one hundred percent (100% or complete
satisfaction). Since all values are expressed as percentages, the values of column (2) also are always
part of an index which can never fall below zero or exceed one hundred. The figures of columns (2) are
important because they provide a measure of the degree a vital, moral collective need is satisfied in a
particular year in a particular country, in this case Chile.
The figures found in column (1), Tables 16-21, measure the percentage contribution of the
index (value) of the degree of satisfaction of the respective moral collective need to the aggregate
index (value) of Sustainable Democracy and Growth (SG). Since each of the six moral collective needs
underpinning SG has been assigned an equal weight of 12.5%, the actual values of the time series in
column (1), Tables 16-21, can not fall below zero or exceed 12.5%. All six moral collective needs
underpinning civil society are complementary and carry equal weights. Their degree of satisfaction
can, and does, vary significantly over time and space-country, as in the Chilean case, which is
examined in this essay, clearly demonstrates.
148
TABLE 16
CHILE
THE MAMALAKIS INDEX OF THE DEGREE OF SATISFACTION OF THE MORAL COLLECTIVE NEED FOR
SAFETY, SECURITY, AND PROTECTION OF LIFE (SL): 1800-2005
Expressed as a Percentage
(1)
(2)
Percentage Contribution of the SL Index of 0 Degree of Satisfaction of
Year
Index to the SG Index
the SL Need
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
6
6
6
6
7
7
7
8
8
8
8
8
8
6
6
6
6
2
8
8
8
48
48
48
48
56
56
56
64
64
64
64
64
48
48
48
48
16
64
64
64
Note: The most fundamental moral collective need, which must be satisfied if civil society is to exist and be
maintained, is that for safety, security and protection of life. The Mamalakis Index of the Degree of Satisfaction of
the Moral Collective Need for Safety, Security, and Protection of Life (SL) aims to provide a quantifiable measure
of the degree of satisfaction of this need. There exist the following unique features of this index. First, it is an index
that focuses on needs. Second, it focuses on collective needs, i.e. the needs where the exclusion and rivalry
principles do not apply. Third, it is a moral collective need. Fourth, it is a need of each and all institutional units
that can best, i.e. least expensively, be satisfied by a legal entity created by the people. This entity, within the
system of National Accounts 2003 (SNA93), is referred to as the general government. This need is recognized
within the collective markets and satisfied through the production of the moral collective service of safety, security,
and protection of life by general government. Its total market value, or cost, is the sum of the multiple “value-added
components” of the final moral collective composite service of safety of life created and used by government to
satisfy the final moral collective need for SL. It is important to point out that this index is consequentialist in nature.
It measures the actual degree of satisfaction of this need, not the cost. As an example, within a range of 0.0% to
100%, it may have a value of only 20%, i.e. low satisfaction, in Palestine, or only 15% in Iraq, and 30 % in
Afghanistan, even though military and police expenses may absorb more than 50% of general government
expenditures in all of these countries.
149
Table 13. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Safety, Security and Protection of Life (SL): Chile, 1800-2005
70
50
Percentage
Contribution of the
SL Index to the SG
Index
Degree of
Satisfaction of the
SL Need
40
30
20
10
0
18
00
18
10
18
20
18
30
18
40
18
50
18
60
18
70
18
80
18
90
19
00
19
10
19
20
19
30
19
40
19
50
19
60
19
70
19
80
19
90
20
00
Index (in Percent)
60
Time
150
TABLE 17
CHILE
THE MAMALAKIS INDEX OF THE DEGREE OF SATISFACTION OF THE MORAL
COLLECTIVE NEED FOR FREEDOM (FR): 1800-2005
Expressed as a Percentage
(1)
(2)
Year
Percentage contribution of Index of Degree of Satisfaction of the FR Need
the FR Index to the SG Index
1800
1810
1820
1830
1840
1850
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
5
7
7
8
7
6
6
7
7
8
8
7
7
7
5
6
4
2
6
9
9
40
56
56
64
56
48
48
56
56
64
64
56
56
56
40
48
32
16
48
75
75
Note: Few collective needs have received as much attention over the millennia as that for freedom.
Throughout the history of economics, politics, law, philosophy, sociology and so forth, freedom is
examined under the nebulous concept of “rights”. Within the Mamalakis Theory of Natural Law, Social
Justice, and Collective Markets, “freedom” is a “need”, a “collective need” of all natural and legal
entities. It is a collective need which is satisfied, through collective markets, by the final composite,
“moral freedom service” produced by general government. The “freedom need” has many components. In
the present essay, two categories are distinguished. (1) The collective need for “political freedom”,
satisfaction of which is the pillar of procedural democracy and (2) “other freedoms” which are a vital
pillar of civil society. In his section, only “other freedoms”, i.e. “non political freedoms” are examined.
Under “other freedoms”, economic freedoms primarily are examined. The Mamalakis Index of the
Satisfaction of the Moral Collective Need for Freedom (FR), which is presented in Table 17, pertains to
the “other freedoms” and aims to provide a quantifiable measure of the actual production of the
“collective moral freedom service” and the percentage of the corresponding collective moral freedom
need being satisfied.
151
Table 14. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Freedom (FR): Chile 1800-2005
80
70
Percentage
Contribution of
the FR Index to
the SG Index
50
40
Degree of
Satisfaction of
the FR Need
30
20
10
0
18
00
18
10
18
20
18
30
18
40
18
50
18
60
18
70
18
80
18
90
19
00
19
10
19
20
19
30
19
40
19
50
19
60
19
70
19
80
19
90
20
00
Index (in Percent)
60
Time
152
TABLE 18
CHILE
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Safety, Security and
Protection of Private Property (PR): 1800-2005
Expressed as a Percentage
(1)
(2)
Percentage Contribution of the PR Index of Degree of Satisfaction of
Year
Index to the SG Index
the PR Need
1800
8
64
1810
8
64
1820
8
64
1830
8
64
1840
8
64
1850
8
64
1860
8
64
1870
8
64
1880
8
64
1890
8
64
1900
8
64
1910
8
64
1920
8
64
1930
8
64
1940
7
56
1950
6
48
1960
5
40
1970
2
16
1980
8
64
1990
9
75
2000
9
75
Note: Without freedom there can be no private property. And, without private property, there can be no
freedom. The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Safety,
Security, and Protection of Private Property (PR) aims to supply a quantifiable measure of the degree of
satisfaction of the collective private property need.
The central points of the Mamalakis theory of economic development, which is based on the
efficiency of collective markets, related to private property are the following: First, there can be no
sustainable economic growth and development unless there also exists civil society. Second, civil society
can not exist without private property, i.e. unless the moral collective need for private property is
satisfied. In addition, and as a consequence of the above, the goal of sustainable democracy can never be
attained unless there exists private property, unless the moral collective need for private property is
satisfied. According to the two golden rules of Mamalakis, any type of political system, in particular
Marxist Totalitarianism, which fails to recognize and satisfy the moral collective need for private
property, can never lead to sustainable growth because it is incompatible both with procedural democracy
and civil society.
153
Table 18. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Safety, Security and Protection of Private Property (PR):
Chile 1800-2005
Index (in Percent)
80
70
60
Percentage Contribution
of the PR Index to the SG
Index
50
40
Degree of Satisfaction of
the PR Need
30
20
10
0
Time
154
TABLE 19
CHILE
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Equal Treatment by
Government (ET): 1800-2005
Expressed as a Percentage
(1)
(2)
Percentage Contribution of the ET
Index of Degree of
Year
Index to the SG Index
Satisfaction of the ET Needs
1800
4
32
1810
4
32
1820
4
32
1830
4
32
1840
4
32
1850
4
32
1860
4
32
1870
4
32
1880
4
32
1890
5
40
1900
5
40
1910
5
40
1920
6
48
1930
7
56
1940
8
64
1950
8
64
1960
8
64
1970
4
32
1980
5
40
1990
8
64
2000
9
75
Note: The Mamalakis Index of Equal Treatment by Government (ET) is unique in the sense that it
incorporates the political virtue of equality in the area where is belongs, i.e. in the domain of collective
services markets. It advances equalitarianism as the principle of a level playing field for all institutional
units and sectors within the collective servies markets. The focus is on the recognition and satisfaction of
the moral collective NEED for equal treatment by government. Government here is synonymous to the
System of National Accounts 1993 (SNA93) institutional sector of “general government”. General
government is the sole institutional sector which has the coercive power to satisfy directly or indirectly
(through delegation) the moral collective need for equal treatment by government. The moral collective
need for equal treatment by government embodies the moral principle that “all people are equal in the
eyes of the government”. The equal treatment by government principle, requires the production, by
general government. of the enlightened collective service of equal treatment by government, to satisfy the
moral collective need for equal treatment by government, both of natural people (individuals) or groups of
individuals (in the form of households), and legal or social entities (financial and non-financial
corporations, non-profit institutions (NPI) and government units).
155
Table 19. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Equal Treatment by Government (ET): Chile, 1800-2005
Index (in Percent)
80
70
60
Percentage
Contribution of the ET
Index to the SG Index
50
40
Degree of
Satisfaction of the ET
Needs
30
20
10
0
Time
156
TABLE 20
CHILE
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Social Harmony (SH): 1800-2005
Expressed as a Percentage
(1)
(2)
Percentage Contribution of the SH Index of Degree of Satisfaction of
Year
Index to the SG Index
the SH Needs
1800
3
24
1810
6
48
1820
6
48
1830
6
48
1840
6
48
1850
6
48
1860
6
48
1870
6
48
1880
6
48
1890
5
40
1900
6
48
1910
6
48
1920
6
48
1930
6
48
1940
6
48
1950
5
40
1960
5
40
1970
2
16
1980
3
24
1990
7
56
2000
8
64
Note: The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Social Harmony (SH) is
important in many respects. First of all, it is an index that involves production of a moral collective need. As such,
second, for this SH need to be satisfied, general government requires general tax revenues to cover the costs of
producing the moral collective service of social harmony. Third, there exists efficiency in the production of the
moral collective need for social harmony if the tax (or, other, such as credit) revenues are neither too high nor to
low in relation to the degree of satisfaction of the SH collective need. If the tax revenues are too high, i.e. they
create negative incentives for the producing institutional units, we enter the domain of redistribution, i.e. the use of
taxes to satisfy the immoral and economically unjustified need for redistribution from productive to parasitic
institutional units. If the tax revenues are too low to satisfy the moral collective need for social harmony,
destructive social disharmony may arise. The people experiencing deprivation in the satisfaction of their moral final
or means needs, can destabilize peace and prosperity through actions weakening or eliminating the ability of
general government to satisfy the other moral collective needs which sustain procedural democracy and civil
society. The demarcation line between immoral redistribution through excessive taxation and underproduction of
the moral collective need for social harmony because of inadequate taxation is not easily determined. The collective
markets approach of Mamalakis aims to facilitate the creation of criteria that are helpful in identifying the trade off
between on one hand, immoral, destabilizing, redistributive, production endangering and, on the other hand,
production (of moral collective services) promoting (financing) taxes.
157
Table 20. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Social Harmony (SH): Chile, 1800-2005
Index (in Percent)
70
60
50
Percentage Contribution
of the SH Index to the
SG Index
40
Degree of Satisfaction of
the SH Needs
30
20
10
0
Time
158
TABLE 21
CHILE
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective
Need for Environmental Protection (EP): 1800-2005
Expressed as a Percentage
(1)
(2)
Percentage Contribution of the EP Index of Degree of Satisfaction of
Year
Index to the SG Index
the EP Need
1800
6
48
1810
6
48
1820
6
48
1830
6
48
1840
6
48
1850
6
48
1860
6
48
1870
5
40
1880
5
40
1890
5
40
1900
6
48
1910
6
48
1920
6
48
1930
6
48
1940
6
48
1950
6
48
1960
6
48
1970
6
48
1980
5
40
1990
4
32
2000
4
32
Note: The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for Environmental
Protection (EP) is unique in multiple ways. Following the Mamalakis theory of composite commodities,
it, first, demonstrates, by using the SNA concept of value added, that at each level of economic
transformation (each meso step of value added) there are costly inputs and outputs which are not
explicitly accounted for. Second, the argument is made that there exists a vital moral collective need for
environmental protection, which is an integral component of collective services markets. That enlightened
collective need can be satisfied through the corresponding enlightened, moral, collective service of
environmental protection. The prevailing treatment of environmental issues within the so-called “nonmarket” economy is replaced, as being inadequate, by the collective service markets approach of
Mamalakis. By identifying the moral collective need for environmental protection as a vital pillar of civil
society, it aims to overcome the prevailing neglect of the all important collective markets and their role in
advancing good life of all around the globe.
159
Table 21. Graph.
The Mamalakis Index of the Degree of Satisfaction of the Moral Collective Need for
Environmental Protection (EP): Chile, 1800-2005
Index (in Percent)
60
50
Percentage Contribution
of the EP Index to the SG
Index
40
30
Degree of Satisfaction of
the EP Need
20
10
0
Time
160
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Lagos Escobar, Ricardo, La Concentración del Poder Económico: Su Teoría: Realidad Chilena.
Santiago de Chile. Editorial Del Pacifico, 1962.
Mamalakis, Markos J. “Public Policy and Sectoral Development. A Case Study of Chile 19401958” in Mamalakis, M. and Rynolds, C.: Essays on the Chilean Economy. Homewood, Illinois. Richard
D. Irwin, Inc. pp. 1-200, 1965.
Mamalakis, Markos J. “The Theory of Sectoral Clashes”, The Latin American Research Review,
Vol. 4, No. 3, pp. 3-46, Fall 1969.
Mamalakis, Markos J. “Contribution of Copper to Chilean Economic Development, 1920-1967:
Profile of a Foreign-Owned Export Sector,” Foreign Investment in Minerals and Petroleum, by Raymond
Mikesell and Associates, Baltimore, Maryland: John Hopkins Press for Resources for the Future, 1971.
Mamalakis, Markos J. “The Theory of Sectoral Clashes and Coalitions Revisited,” Latin American
Research Review, Vol. VI, No. 3, pp. 89-126, Fall 1971.
Mamalakis, Markos J. “Sectoral Conflicts in the USA and the Soviet Union: A Mesoeconomic
Analysis”, Eastern Economic Journal, Vol. 18, No. 4, pp. 421-428, Fall 1992.
Mamalakis, Markos J. The Growth and Structure of the Chilean Economy, From Independence to
Allende. The Yale Eocnomic Growth Center. Yale University Press, 1976.
Mamalakis, Markos J. Historical Statistics of Chile. Vol. 1. National Accounts. CN: Greenwood
Press, 1978.
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The six Mamalakis volumes of Historical Statistics of Chile, which are included in the present list
of References, provide detailed time series and cross section data, as found in the original sources. They
also include detailed qualitative methodological and analytical information and commentary. Each topic is
normally examined in a comprehensive manner. A vast number of complementary statistics are presented
and evaluated, enabling the reader to obtain the best possible picture of how the statistics were prepared,
their limitations, how and when they can best be used, and describing possible pitfalls of their abuse. Each
volume contains theoretical contributions attempting to solve fundamental analytical problems. All
contain extensive bibliographies.
Mamalakis, Markos J. Historical Statistics of Chile. Vol. 2. Demography and Labor Force. CN:
Greenwood Press 1980.
Mamalakis, Markos J. Historical Statistics of Chile Vol. 3. Forestry and Related Activities. CN:
Greenwood Press 1982.
Mamalakis, Markos J. Historical Statistics of Chile Vol. 4. Money, Prices, and Credit Services.
CN: Greenwood Press, 1983.
Mamalakis, Markos J. Historical Statistics of Chile Vol. 5. Money, Banking, and Financial
Services. CN: Greenwood Press, 1985.
Mamalakis, Markos J. Historical Statistics of Chile Vol. 6. Government Services and Public Sector
and a Theory of Services. CN: Greenwood Press, 1989.
Mamalakis, Markos J. “Economic Development” in Encyclopedia of Latin American History and
Culture, Vol. 2, edited by Barbara A. Tenenbaum, 432-39. New York: Charles Scribner’s Sons, 1996.
The eight Mamalakis economic essays in the Encyclopedia of Latin American History and
Culture, which are included in this list of References, provide a panoramic view of the economic
evolution of Latin America, including Chile, from Independence until the early 1990’s. They provide
background information for the essay on Chile. By using up to date analytical economic frameworks, they
aim to offer a balanced presentation of alternative approaches and explanations. Each contains a selective
bibliography.
Mamalakis, Markos J. “Economic Development, Theories of.” In Encyclopedia of Latin American
History and Culture, Vol. 2, edited by Barbara A. Tenenbaum, 439-44. New York: Charles Scribner’s
Sons, 1996.
Mamalakis, Markos J. “Foreign Trade” In Encyclopedia of Latin American History and Culture,
Vol. 2, edited by Barbara A. Tenenbaum, 596-601. New York: Charles Scribner’s Sons, 1996.
Mamalakis, Markos J. “Income Distribution” In Encyclopedia of Latin American History and
Culture, Vol. 3, edited by Barbara A. Tenenbaum, 251-59. New York: Charles Scribner’s Sons, 1996.
Mamalakis, Markos J. “Informal Economy” In Encyclopedia of Latin American History and
Culture, Vol. 3, edited by Barbara A. Tenenbaum, 276-80. New York: Charles Scribner’s Sons, 1996.
163
Mamalakis, Markos J. “Privatization” In Encyclopedia of Latin American History and Culture,
Vol. 4, edited by Barbara A. Tenenbaum, 474-75. New York: Charles Scribner’s Sons, 1996.
Mamalakis, Markos J. “Public Sector and Taxation” In Encyclopedia of Latin American History
and Culture, Vol. 4, edited by Barbara A. Tenenbaum, 484-89. New York: Charles Scribner’s Sons, 1996.
Mamalakis, Markos J. “Service Sector” In Encyclopedia of Latin American History and Culture,
Vol. 5, edited by Barbara A. Tenenbaum, 97-103. New York: Charles Scribner’s Sons, 1996.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 41, Social Sciences,
Austin and London: University of Texas Press, 1979.
The ten bi-annual or tri-annual economic historiographic essays on Chile by Mamalakis, which are
listed below, provide the reader with a critical guide to major economic trends and literature during
successive periods.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 43, Social Sciences,
Austin and London: University of Texas Press, 1981.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 45, Social Sciences,
Austin and London: University of Texas Press, 1983.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 47, Social Sciences,
Austin and London: University of Texas Press, 1985.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 49, Social Sciences,
Austin and London: University of Texas Press, 1989.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 51, Social Sciences,
Austin and London: University of Texas Press, 1991.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 53, Social Sciences,
Austin and London: University of Texas Press, 1994.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 55, Social Sciences,
Austin and London: University of Texas Press, 1997.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 57, Social Sciences,
Austin and London: University of Texas Press, 2000.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 59, Social Sciences,
Austin and London: University of Texas Press, 2003.
Mamalakis, Markos J. “Chile,” Handbook of Latin American Studies: No. 61, Social Sciences,
Austin and London: University of Texas Press, 2006.
164
Mamalakis, Markos J. “Las reglas doradas” (The Golden Rules) in the Supplemento Anniversario
16 años (16th Anniversary Issue) (Chile in the Eyes of the World) of the leading financial newspaper
Diario Financiero, Santiago, Chile, Monday, 29 November 2004, p. 133. Reprinted in Spanish and also
published in English as “Sustainable Democracy and the Golden Rules”, Global Currents, Center for
International Education, University of Wisconsin-Milwaukee, Vol. 1, Issue 2, Spring 2005, pp. 18-19.
This publication contains a concise, summary presentation of the Golden Rules for attaining sustainable
democracy and growth by Mamalakis. These golden rules provide a foundation of the Mamalakis indices
of Sustainable Democracy and Growth of the present essay.
Mamalakis, Markos J., J. Mark Payne, Daniel Zovatto G., Carrillo Florez, and Andres Allamand
Zavala, Democracies in Development: Politics and Reform in Latin America. (Baltimore: John Hopkins
University Press, 2002) THE AMERICAS, Vol. 61, Number 3 (January), 2005. This book review
contains a summary attempt to link the Golden Rules and Collective Markets theory of Mamalakis to
political and economic development theory.
Mamalakis, Markos J. “Social Justice in a Global Environment: A Theory of Natural Law and
Social Justice” in The Quest for Social Justice III: The Morris Fromkin Memorial Lectures 1992-2002.
pp. 227-304. Edited by Peter G. Watson-Boone, Milwaukee, Wisconsin: University of WisconsinMilwaukee, 2005. This essay provides a detailed presentation of the Mamalakis Collective Markets
approach to Economic, Political, Legal, and Political Philosophy Theory. It contains the theoretical and
analytical foundations of the Mamalakis Indices of Sustainable Democracy and Growth of the present
essay.
Martner, Daniel, Historia de Chile. Historia Económica. Tomo I. Santiago, Chile:
Establecimientos Gráficos de Balcells and Company, 1923.
Meller, Patricio, Un Siglo de Economía Política Chilena (1891-1990). Santiago, Chile: Editorial
Andrés Bello, 1996.
Molina, Evaristo, Bosquejo de la Hacienda Pública de Chile, desde la Independencia hasta la
Fecha. Santiago, Chile: Imprenta Nacional, 1898.
Muñoz, Oscar, Crecimiento Industrial de Chile, 1914-1965. Santiago, Chile: Universidad de
Chile/Instituto de Economía y Planificación. Second Edition, 1971.
Pan American Union, Chile. Washington, D.C.: Organization of American States, 1957.
Pinto, Aníbal, Chile: un Caso de Desarrollo Frustrado. Santiago, Chile: Editorial Universitaria,
1962.
Rector, John L. The History of Chile. Palgrave Macmillan. 2005. This superb book is strongly
recommended to anyone interested in Chile. In addition to its excellent historical main body, it also
provides the reader with a comprehensive suggested list of “must read” historical, economic, political, and
literary and other publications on Chile.
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Reynolds, Clark, “Development Problems of an Export Economy. The Case of Chile and Cooper”,
in Mamalakis, M. and Reynolds, C.: Essays on the Chilean Economy. Homewood, Illinois. Richard D.
Irwin, Inc., pp. 201-398, 1965.
Vera, Mario, Una Política Definitiva Para Nuestras Riquezas Básicas. Santiago, Chile. Prensa
Latinoamericana, 1964.
Wagner, Gert, Jofré, José and Rolf Lüders, Economia Chilena 1810-1995. Cuentas Fiscales.
Santiago, Chile. Instituto de Economia, Protificia Universidad Católica de Chile. Documento de Trabajo.
No. 188. Diciembre 2000. A monumental compilation of governmental statistics.
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