Ricardo Ffrench-Davis, one of Chile’s most prominent economists and a key figure among the so-called "Chicago Boys," has publicly criticized the left for neglecting economic growth while asserting that growth does not equate to tax cuts. At 90 years old, Ffrench-Davis, who recently published his book Reformas económicas en Chile, described this interview as potentially his last public statement. He emphasized that despite his age, he continues to engage with academic work and remains active in the intellectual discourse surrounding Chile's economic policies. Ffrench-Davis, a professor emeritus at the University of Chile, spoke from his office in the Faculty of Economics and Business, which he has occupied for many years. His new book provides a historical analysis of Chile’s economic transformations from 1973 to 2024, highlighting both successes and failures. According to him, the greatest shadow over Chile’s recent history was during the dictatorship, which failed to achieve sustainable economic growth. The regime saw average annual growth of just 2.9%, marked by two major crises that caused GDP declines of 14% and 17%, respectively. Recovery took many years, with the country not regaining its 1981 per capita GDP until 1988. Despite these challenges, Ffrench-Davis acknowledged some positive developments, particularly under President Patricio Aylwin. During Aylwin’s government, efforts were made to address the dangerous economic imbalances inherited from the previous military rule. Measures included increasing taxes, boosting social spending, and supporting small and medium enterprises. These actions helped reduce the gap between Chile’s economy and that of developed nations such as the United States and members of the G7. However, Ffrench-Davis argued that the neoliberal model implemented after the return to democracy had been largely unsuccessful, as it led to slow growth and a widening economic disparity. He pointed out that under the Aylwin administration, the government managed to regulate financial capital movements, increase investment rates, and create conditions for more robust economic expansion. This contrasted sharply with the earlier period of military rule, where investment levels remained significantly lower. Ffrench-Davis noted that the shift in policy direction allowed for greater economic stability and growth, although he cautioned against repeating past mistakes. In addition to Ffrench-Davis’s reflections on Chile’s economic trajectory, concerns have emerged regarding the state of scientific research in the country. A group of academics from a regional university expressed alarm over recent changes to the Fondecyt Postdoctoral Grant program. They warned that the creation of priority areas excluding social sciences, humanities, and arts, along with the requirement for permanent residency for foreign researchers, signals a troubling trend toward neoliberal priorities and xenophobia. These measures could undermine the broader scientific ecosystem, which has already faced growing instability due to limited resources and increasing demands for productivity. The scholars highlighted that despite these challenges, Chile has achieved notable success in scientific output, ranking highest in Latin America in terms of per capita production. However, this achievement comes despite a national investment in research and development amounting to just 0.41% of GDP, far below the OECD average of 2.7%. The situation raises questions about how to sustain this progress amid shrinking opportunities and increasing pressure on researchers to conform to narrow economic goals. The exclusion of certain fields from funding priorities reflects a broader concern about the role of knowledge in democratic societies. While technological advancements and economic sectors such as mining and biotechnology receive attention, understanding the reasons behind policy failures, analyzing societal dynamics, and addressing inequality remain critical yet often overlooked aspects of governance. As the debate over the future of scientific research in Chile unfolds, the voices of academics and intellectuals like Ffrench-Davis continue to shape discussions on the nation’s path forward.
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