Chilean economy: Diagnosis from The Development of The Common Good

Abstract

Global economies have a direct impact on the development of nations, which have been contingent on the changes and influences they have suffered over the years. Thus, the urgent need arises to reflect on the role that the economy plays in social progress, a position that rescues its essence and meaning, while being identified as a tool to achieve the common good, based on the values of justice and equity.

Placing the analysis in Chilean reality, this research aims to analyze the elements explicit under the principles of the common good, together with components associated with them, to diagnose the extent to which these variables manifest themselves in their development indicators. For this purpose, the economy in Chile was described under an evolutionary historical gaze and then clarified the basic concepts that outline the concept of The Economy of the Common Good. Subsequently, using multivariate techniques, A comparative analysis was carried out, in specific HJ-Biplot, taking into account the background provided by OECD countries, placing Chile within the study variables. Finally, the results of this research show that, in order for Chile to develop an economy based on the common good, it is urgent to implement actions that reduce inequality and benefit mainly the most vulnerable population.