--- title: "Meaning & Key Takeaway of: During the boom, Chile’s economic gains…" description: "\"“During the boom, Chile’s economic gains had been privatized; now, in the crunch, the country’s losses were socialized.”\" — Nancy MacLean" image: "https://sms4smile.com/quotes/i/06b/nancy-maclean-38428_privatized_during-the-boom-chile-s-economic-gains-h_3046311.jpg" --- # During the boom, Chile’s economic gains had been… ![“During the boom, Chile’s economic gains had been privatized; now, in the crunch, the country’s losses were socialized.” quote by Nancy MacLean](https://sms4smile.com/quotes/i/06b/nancy-maclean-38428_privatized_during-the-boom-chile-s-economic-gains-h_3046311.jpg) [Download](https://sms4smile.com/quotes/i/06b/nancy-maclean-38428_privatized_during-the-boom-chile-s-economic-gains-h_3046311.jpg) [Open image](https://sms4smile.com/quotes/i/06b/nancy-maclean-38428_privatized_during-the-boom-chile-s-economic-gains-h_3046311.jpg) > ““During the boom, Chile’s economic gains had been privatized; now, in the crunch, the country’s losses were socialized.”” [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic gains were privatized during boom, but losses become socialized during crisis, shifting burdens to the public. **In simple terms:** Boom benefits private, bust hurts public. Key Takeaway Recognize hidden cost shifts. Themes economics privatization socialization crisis inequality Mood analytical critical Type economic political When to use this quote - budget planning - social safety nets - tax policy - investment strategies Key Concepts public economics policy analysis wealth distribution Questions to Reflect On - Who bears the cost in economic downturns? - How can policies protect public interests? A Different Perspective Complexities of economic cycles can obscure responsibility. ★ ★ ★ ★ ★ No ratings yet [Boom Chile](https://sms4smile.com/quotes/about/boom-chile-5046107/) [Chile Economic](https://sms4smile.com/quotes/about/chile-economic-5046108/) [Gains Privatized](https://sms4smile.com/quotes/about/gains-privatized-5046106/) [Privatized](https://sms4smile.com/quotes/about/privatized-568419/) [Privatized Crunch](https://sms4smile.com/quotes/about/privatized-crunch-5046109/) ## Related quotes > [If you have free universal health care and free education supported by public school taxes, then you have more bargaining power with your bosses,…](https://sms4smile.com/quotes/michael-lind/if-you-have-free-universal-health-care-and-free-education-supported/) [Michael Lind](https://sms4smile.com/quotes/author/michael-lind/) > [TSA needs to be totally changed. I would like them to be privatized.](https://sms4smile.com/quotes/paul-broun/tsa-needs-to-be-totally-changed-i-would-like-them-to-be-privatized/) [Paul Broun](https://sms4smile.com/quotes/author/paul-broun/) > [We're essentially continuing a system where profits are privatized and...losses socialized,](https://sms4smile.com/quotes/nouriel-roubini/we-re-essentially-continuing-a-system-where-profits-are-privatized/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [As more government functions are privatized, we find political leaders defunding the public school system, shifting government funds to the private, for-profit school industry.](https://sms4smile.com/quotes/hank-johnson/as-more-government-functions-are-privatized-we-find-political-leaders/) [Hank Johnson](https://sms4smile.com/quotes/author/hank-johnson/) > [This Iraq war has been the most "privatized" war in America's history. It has seen the most extensive use of contractors. The contractors have…](https://sms4smile.com/quotes/joseph-stiglitz/this-iraq-war-has-been-the-most-privatized-war-in-america-s-history/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [The U.S. has the most dysfunctional healthcare system in the industrial world, has about twice the per capita costs, and some of the worst…](https://sms4smile.com/quotes/noam-chomsky/the-u-s-has-the-most-dysfunctional-healthcare-system-in-the/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Privatization is a neoliberal and imperialist plan. Health can't be privatized because it is a fundamental human right, nor can education, water, electricity and…](https://sms4smile.com/quotes/hugo-chavez/privatization-is-a-neoliberal-and-imperialist-plan-health-can-t-be/) [Hugo Chavez](https://sms4smile.com/quotes/author/hugo-chavez/) > [As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual profits privatized ...](https://sms4smile.com/quotes/noam-chomsky/as-in-the-past-the-costs-and-risks-of-the-coming-phases-of-the/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [If all schools become privatized in the U.S., the poor wouldn't be given vouchers for 'school choice.' They would have no choices.](https://sms4smile.com/quotes/ana-kasparian/if-all-schools-become-privatized-in-the-u-s-the-poor-wouldn-t-be/) [Ana Kasparian](https://sms4smile.com/quotes/author/ana-kasparian/) > [After all, the internet originated around 1960 and wasn't privatized until 1995. That's thirty five years in the public domain during the hard, creative development period.](https://sms4smile.com/quotes/noam-chomsky/after-all-the-internet-originated-around-1960-and-wasn-t-privatized/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [A basic principal of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized.](https://sms4smile.com/quotes/noam-chomsky/a-basic-principal-of-modern-state-capitalism-is-that-costs-and-risks/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Analysts say that one reason Fannie Mae and Freddie Mac were privatized in the first place was to prevent political whims from dominating the…](https://sms4smile.com/quotes/charles-duhigg/analysts-say-that-one-reason-fannie-mae-and-freddie-mac-were/) [Charles Duhigg](https://sms4smile.com/quotes/author/charles-duhigg/) > [“That which we want less of in society should rarely be privatized and that which we want more of often should be.”](https://sms4smile.com/quotes/william-macgregor-robson/that-which-we-want-less-of-in-society-should-rarely-be-privatized-and/) [William MacGregor Robson](https://sms4smile.com/quotes/author/william-macgregor-robson/) > [I'm all right if the NHS gets privatized. I'll just spit two bars, get a bit of money and go fix my ribs.](https://sms4smile.com/quotes/jme/i-m-all-right-if-the-nhs-gets-privatized-i-ll-just-spit-two-bars-get/) [Jme](https://sms4smile.com/quotes/author/jme/) > [We need to phase Medicare and Social Security out in favor of something privatized.](https://sms4smile.com/quotes/sharron-angle/we-need-to-phase-medicare-and-social-security-out-in-favor-of/) [Sharron Angle](https://sms4smile.com/quotes/author/sharron-angle/) ## More by Nancy MacLean > [“Koch believed that what the famed economist Joseph Schumpeter called "creative destruction" was so critical to the health of the capitalist system that empathy…](https://sms4smile.com/quotes/nancy-maclean/koch-believed-that-what-the-famed-economist-joseph-schumpeter-called/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [Most Americans believe in fairness; we believe that people should work hard but there should be a safety net. We believe in saving the…](https://sms4smile.com/quotes/nancy-maclean/most-americans-believe-in-fairness-we-believe-that-people-should-work/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [Privatization radically alters power relations in our society by weakening groups like public employees and public school teachers.](https://sms4smile.com/quotes/nancy-maclean/privatization-radically-alters-power-relations-in-our-society-by/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“Its leaders had no scruples about enlisting white supremacy to achieve capital supremacy.”](https://sms4smile.com/quotes/nancy-maclean/its-leaders-had-no-scruples-about-enlisting-white-supremacy-to/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“By 1860, two of every three of the relatively few Americans whose wealth surpassed $100,000 lived below the Mason-Dixon Line. New York at that…](https://sms4smile.com/quotes/nancy-maclean/by-1860-two-of-every-three-of-the-relatively-few-americans-whose/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“Urging Koch on in his chosen vocation was something else as well: his belief that his own growing financial success as one of the…](https://sms4smile.com/quotes/nancy-maclean/urging-koch-on-in-his-chosen-vocation-was-something-else-as-well-his/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“Instead, he was mapping a social contract based on “unremitting coercive bargaining” in which individuals treated one another as instruments toward their own ends,…](https://sms4smile.com/quotes/nancy-maclean/instead-he-was-mapping-a-social-contract-based-on-unremitting/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“Public interest has been subordinated to private interest, and when there is no clear distinction between them, it opens the door to endless opportunities…](https://sms4smile.com/quotes/nancy-maclean/public-interest-has-been-subordinated-to-private-interest-and-when/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [The first thing I'd say is stop paying such attention to Trump's tweets. They're a total distraction. I think we should instead be carefully…](https://sms4smile.com/quotes/nancy-maclean/the-first-thing-i-d-say-is-stop-paying-such-attention-to-trump-s/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [ “\[James M. Buchanan\] directed hostility toward college students, public employees, recipients of any kind of government assistance, and liberal intellectuals. His intellectual lineage went… ](https://sms4smile.com/quotes/nancy-maclean/james-m-buchanan-directed-hostility-toward-college-students-public/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) > [“Do we want to live in a cosmetically updated version of midcentury Virginia, in a country that so elevates property rights as to paralyze…](https://sms4smile.com/quotes/nancy-maclean/do-we-want-to-live-in-a-cosmetically-updated-version-of-midcentury/) [Nancy MacLean](https://sms4smile.com/quotes/author/nancy-maclean/) [Explore all 12 Nancy MacLean quotes ](https://sms4smile.com/quotes/author/nancy-maclean/) ## More Privatized quotes > [If you have free universal health care and free education supported by public school taxes, then you have more bargaining power with your bosses,…](https://sms4smile.com/quotes/michael-lind/if-you-have-free-universal-health-care-and-free-education-supported/) [Michael Lind](https://sms4smile.com/quotes/author/michael-lind/) > [I'm all right if the NHS gets privatized. I'll just spit two bars, get a bit of money and go fix my ribs.](https://sms4smile.com/quotes/jme/i-m-all-right-if-the-nhs-gets-privatized-i-ll-just-spit-two-bars-get/) [Jme](https://sms4smile.com/quotes/author/jme/) > [“That which we want less of in society should rarely be privatized and that which we want more of often should be.”](https://sms4smile.com/quotes/william-macgregor-robson/that-which-we-want-less-of-in-society-should-rarely-be-privatized-and/) [William MacGregor Robson](https://sms4smile.com/quotes/author/william-macgregor-robson/) > [Analysts say that one reason Fannie Mae and Freddie Mac were privatized in the first place was to prevent political whims from dominating the…](https://sms4smile.com/quotes/charles-duhigg/analysts-say-that-one-reason-fannie-mae-and-freddie-mac-were/) [Charles Duhigg](https://sms4smile.com/quotes/author/charles-duhigg/) > [A basic principal of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized.](https://sms4smile.com/quotes/noam-chomsky/a-basic-principal-of-modern-state-capitalism-is-that-costs-and-risks/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [After all, the internet originated around 1960 and wasn't privatized until 1995. 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Health can't be privatized because it is a fundamental human right, nor can education, water, electricity and…](https://sms4smile.com/quotes/hugo-chavez/privatization-is-a-neoliberal-and-imperialist-plan-health-can-t-be/) [Hugo Chavez](https://sms4smile.com/quotes/author/hugo-chavez/) > [The U.S. has the most dysfunctional healthcare system in the industrial world, has about twice the per capita costs, and some of the worst…](https://sms4smile.com/quotes/noam-chomsky/the-u-s-has-the-most-dysfunctional-healthcare-system-in-the/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [This Iraq war has been the most "privatized" war in America's history. It has seen the most extensive use of contractors. The contractors have…](https://sms4smile.com/quotes/joseph-stiglitz/this-iraq-war-has-been-the-most-privatized-war-in-america-s-history/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [As more government functions are privatized, we find political leaders defunding the public school system, shifting government funds to the private, for-profit school industry.](https://sms4smile.com/quotes/hank-johnson/as-more-government-functions-are-privatized-we-find-political-leaders/) [Hank Johnson](https://sms4smile.com/quotes/author/hank-johnson/) > [We're essentially continuing a system where profits are privatized and...losses socialized,](https://sms4smile.com/quotes/nouriel-roubini/we-re-essentially-continuing-a-system-where-profits-are-privatized/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [TSA needs to be totally changed. 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