Being a business major, i wanted to take time to address the business climate here in Chile. I have been astounded at the economy’s acceptance of free market capitalism regardless of size, quantity, or quality. When I say this I am referring to the countless tent or blanket sheet merchants that live in the streets of nearly every major thorough fare. These merchants offer various commerce ranging from fruits to used clothes and everything in between. I think that this action, this acceptance has been pivotal in strengthening this economy to what we see it to be today. This increased economic activity allows for a more cohesive society one that is interdependent and works towards the same ends. I also have enjoyed being in the atmosphere of such hard-working and entrepreneurial people. The ambition that they carry around everyday regardless of their profession is refreshing to me and invigorated my pursuits. When we go back home to the United States, we will return to a nation of formal institutions. One where vendors require permits, small corner stores tend to be more corporate, and where large institutions are the predominate force in commerce. Now I’m not saying that the US, a very successful capitalistic country should take notes on Chile’s economic activity yet I think it is very important to note the fluidity of their ability to exchange commerce. I believe if the US were to relax their permit regulations for vending or implement a greater importance on markets similar to how Valporaiso created a weekly market schedule (Wednesday, Saturday, Sunday), then we would see greater economic activity. Through witnessing all of this entrepreneurial activity I am further interested in the structure of business incubators and further passionate about implementing my own. I’m going to take what I’ve seen in Chile, the passion that individuals have for their craft and attempts to help as many Americans with that same passion as I can. While it may not be as visible, I know that the entrepreneurial spirit is alive and well in America.
2 thoughts on “The Beauty of Undeterred Business”
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As a business minor, I would agree with your observations. I have also noticed that this less corporate style occurs in restaurants here as well. There are many small, hole-in-the-wall type places that operate in ways that we would never see in America, without written menus and very laid-back service. Yesterday, we went to an establishment with one waitress, who spent most of her time in the basement, leaving us alone. In Chilean culture, this type of experience is normal, however, it would never be successful in the United States because we are so used to highly-regulated restaurant experiences. People would likely be annoyed with the slow service and may even take advantage of how trusting the waitress was.
Nick, this is an interesting topic you bring up. While I do think that you’re correct about some things here, I would like to raise a couple questions. I think you make a good point about economic freedom here- people like to have the ability to move up socioeconomically. However where do we draw the line? Would someone choose to sell water bottles on the street if they had other options? That being said, there is some over regulation in the United States. Too often someone is targeted for selling lemonade or snacks and their targeters are vindicated by strict permitting laws. Do regulations keep people safe,though? In my opinion lemonade salespeople are relatively harmless but large businesses are not. I would argue that regulation keeps people safe from Capitalism- an economic system that inherently values money over people. While I am not an expert on the markets in Chile, isn’t there enough deregulation efforts in the US? If you are arguing for small businesses, I would say no, but large businesses are favored at every turn in the US. We may have something to learn about economic freedom from Chile, but deregulation of Capitalism is not that.