What is neoliberalism and why some deny it exists

  • Gerardo Lissardy
  • BBC News World

Billets of 100 dollars with the flag of the United States.

Credit, Getty Images

It has been the subject of debate in Latin America for decades, but for many it is difficult to define and others believe it does not even exist: neoliberalism, the word that marked an era.

It is enough to examine the electoral campaign in Chile — the Latin American country that concentrates the greatest influence of neoliberal ideas — to see how this concept is still a watershed in the region.

Kast, on the other hand, presented neoliberal banners, such as the free market and the reduction of state intervention in the economy. His government program mentioned one of the biggest references of this line of thought – the American economist Milton Friedman.

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