- The article focuses on the question why Chile’s extractivist accumulation model is so stable despite ongoing protest, many years of a political left turn in Latin America and wide-ranging ecological damages caused by the extractive industries. It does not only take into account the appropriation of nature but analyses the appropriation of power by a small Chilean class of big company owners. The huge inequality which characterizes Chile’s society also shapes political power. The article distinguishes different power resources of Chile’s big business class and explains how these explain the surprising continuity of Chile’s extractivist economy in a socio-ecological deadlock.