So, whenever you read about what a great guy Milton Friedman was, remember Augusto Pinochet. He used to throw political dissidents out of jet planes for the crime of not agreeing with him.
This is the only way people get all those awesome libertarian economic ideals in practice: by turning the country over to a murderous piece of garbage like Pinochet.
Pinochet allowed Milton Friedman and his cronies, principally Arnold Harberger, along with a small clique of Chilean "neoliberal" economists to implement this "neoliberal" agenda. Here was Friedman's chance to prove himself right and Samuelson wrong. Friedman was given a more-or-less free hand to implement whatever economic reforms he deemed needed, and Friedman did so with a vengeance. In a quick succession of reforms, the collective-bargaining law was abolished, essentially eliminating the influence of labor unions. The minimum wage law was abolished. The Social Security System was privatized, by being evenly divided among six companies, each to compete with each other. Public assets were sold, often at bargain basement prices, to whoever would buy them.
On the political side, Pinochet did his part by rounding up any opponents of the "neoliberal" agenda. Anyone who questioned the wisdom of the reforms being implemented by the "Chicago Boys" was swiftly rounded up and, as often as not, never heard from again. Trade union organizers, economic justice advocates, Leftists and anyone else who objected to the reforms began to disappear. By the end of his regime, Pinochet was responsible for the deaths of at least 3,000 people and the disappearance of many thousands more.
Gradually eliminating their political competition within the military and civilian bureacracy, the Chicago Boys had, by 1975, accumulated enough political capital to implement their program pretty much as they pleased. They began a series of far-reaching reforms - which they called "shock treatment" - which included devaluing and floating the currency, steeply increasing interest rates and slashing tariffs to counteract the inflation that the devaluation would have caused, while greatly reducing public expenditures. They abolished all taxes on wealth and business profits, and began slashing government workforces, including selling off any and all state-owned enterprises.