The interaction of elite networks in the Pinochet regime's macroeconomic policies

Abstract

The Chilean military regime offered a prime example of interactions among elite groups in the making of macroeconomic policies. Through the lens of both Bourdieu's field theory and Mills's elite coordination through networks, we show how Chilean elites sought to implement these policies despite being divided by their transnational and national ties. We have constructed an original database on the 62 most influential individuals within the space of macroeconomic policies using a variety of descriptive methods (multiple correspondence analysis, cluster analysis, and social network analysis), only used on very few occasions to study South American elites. We explore the internal divisions in these elites in terms of their orientation to national and transnational capital and biographical trajectories. We identify three groups – high-ranking military officers, Chicago academic economists, and public and private sector professionals. Military officers were mostly endowed with national assets, while civilian groups relied on transnational resources. Moreover, the Chicago economists, characterized by their transnational and scientific legitimacy, were the closest to influential state positions overall (the Ministry of the Treasury and the Central Bank). Finally, we categorize the same three groups through (national and transnational) network ties. Organizational ties between those groups were significant, particularly among Chicago economists and professionals, which suggests an intense coordination process, facilitated by transnational affiliations and profile.