The article discusses the relationship between the economic policy of the new democratic government in Chile which consists of a coalition between Christian Democrats and Socialists, toward the neoliberal legacy of the Pinochet Regime. It is shown that the economic concept of the new Chilean administration differs from both, the radical neoliberalism of the military dictatorship as well as the lopsided development strategies directed towards the domestic markets, on which the Latin American countries had focused for decades. The Chilean society is searching for a process towards world-market oriented specialization and industrialization in order to spur on the Chilean economy as well as to improve the international competitiveness within a framework of political democracy while realizing social justice: a political project which in view of the failure of traditional models of development like the import substitution in Latin America, deserves particular attention.
