Velasco was pessimistic about the possibility of reversing these trends. High popular expectations and the politicisation of economic life made it impossible to keep inflation under control. By 1958, Velasco had not countenanced what would be necessary to lower these expectations and depoliticise the economy. It would take another decade and a half before the neoliberals found their solution in Chile.

Jessica Whyte, The Morals of the Market, loc. 301