This article explores how Chilean business elites remember the Unidad Popular (UP) government (1970–1973) and how these memories shape their current political culture. Drawing on interviews, it distinguishes between two generational groups: those who experienced the UP as adults and those who lived through it as children or adolescents or did not live it firsthand. The study examines how memories of political confrontations and commodity shortages form a conservative collective narrative that resists systemic reform. These recollections often legitimize the 1973 military coup and the subsequent neoliberal transformations. The research shows that personal experiences, as well as narratives passed down through generations, contribute to the construction of a political culture among economic elites that privileges stability over change. By analyzing these memory dynamics, the article underscores the importance of elite historical consciousness in shaping their vision of Chile’s political present and its possible future.
Rauld et al. (2026) studied this question.