Modern History
Allende, Pinochet and the 1973 Military coup in Chile
·<Tab/>The role of Pinochet and the USA in overthrowing the Allende government
Salvador Allende became the first democratically elected socialist leader in world in 1970 when he won the majority vote in Chile. His first year in office was a successful one- socialisation of the means of production in the nation had positive effects on the economy and especially Chiles working class. Unfortunately, the ensuing two years were disastrous for Allende's reputation and Chile. Demand outstripped supply, the economy shrank, deficit spending rose, new investments and foreign exchange became scarce, the value of copper sales dropped, shortages appeared, and inflation rose, eroding the previous gains for the working class. A thriving black market sprang up. Opposition was growing rapidly and on September 11 1973 the Chilean army launched a military coup on Allende's government, Allende either being assassinated or committing suicide during the event.
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