I am a professor at the School of Political Science, Diego Portales University in Santiago, Chile (www.udp.cl).
I am also a research associate to the Max Planck Institute for the Study of Societies (www.mpifg.de/en) and the Center for Social Conflict and Cohesion Studies (www.coes.cl)
My work deals with the the political economy of development, particularly the role of business and institutions. I have done research on several topics including monetary policy, industrial policy, skills formation, environmental policy and clean energy. I focus mostly on Latin America, but have also done comparative work with other regions like Eastern Europe.
I co-edit (with Juan Bogliaccini and Sara Niedzwiecki) Palgrave's Latin American Political Economy book series.
Neoliberal Resilience. Lessons in Democracy and Development from Latin America and Eastern Europe Princeton University Press, 2020
Winner of the 2021 Honorable Mention for Best Book
IPE section, International Studies Association (ISA)
Since the 1980s, neoliberalism has withstood repeated economic shocks and financial crises to become the hegemonic economic policy worldwide. Why has neoliberalism remained so resilient? What is the relationship between this resiliency and the backsliding of Western democracy? Can democracy survive an increasingly authoritarian neoliberal capitalism? Neoliberal Resilience answers these questions by bringing the developing world’s recent history to the forefront of our thinking about democratic capitalism’s future.
Looking at four decades of change in four countries once considered to be leading examples of effective neoliberal policy in Latin America and Eastern Europe—Argentina, Chile, Estonia, and Poland—I examine the domestic actors and institutions responsible for defending neoliberalism. Delving into neoliberalism’s political power, Neoliberal Resilience demonstrates that it is strongest in countries where traditional democratic principles have been slowly and purposefully weakened. He identifies three mechanisms through which coalitions of political, institutional, and financial forces have propagated neoliberalism’s success: the privatization of state companies to create a supporting business class, the use of political institutions to block the representation of alternatives in congress, and the constitutionalization of key economic policies to shield them from partisan influence. Madariaga reflects on today’s most pressing issues, including the influence of increasing austerity measures and the rise of populism.
A comparative exploration of political economics at the peripheries of global capitalism, Neoliberal Resilience investigates the tensions between neoliberalism’s longevity and democracy’s gradual decline.