Regime change and the transformation of state-capital relations in Chile

One of the most striking characteristics of Chile's post-military political order has been the surprisingly harmonious relations between the ruling center-left Conceración de Partidos por la Democracia and the country's economic elite. The resulting accommodation is of such significance, in fact, as to form the basis of a new socio-political compromise, only the second in Chile since the advent of mass democracy nearly seventy years ago. This article seeks to explain this outcome and to examine its implications for Chile's new democracy.