Whereas the Chicago School’s monetary, regulation, and competition theories served as talismans with regard to Chile’s monetary and fiscal policies, the Virginia School’s public choice theory pioneered by MPS members Buchanan and Tullock (Amadae 2003; Pitt, Salehi, and Eckel 2004) is important in better comprehending Chile’s reform agenda for labor relations and the privatization of the country’s social security and education systems (Stepan 1985). Partly as a result of the “Chicago” focus characterizing Chile’s road to neoliberalism, the Virginia School’s influence has been underemphasized and conflated with that of the Chicago School.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1582