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According to President Piñera on Wednesday, free competition is crucial "not only for the effectiveness of a social market economy system, but also for the sake of". Ethics of a social market economy system "This is a definition that this newspaper shares and which, in a first badysis, seems to be well reflected in the consumer agenda that the government promotes.
A central element of this program will be financial portability, which aims to: people can switch from one bank to another, at no cost, with all the products and services they have purchased. The President focused on a particularly delicate issue, namely the mobility of mortgages between different institutions, so that "people have a simple and fast mechanism for them to address another bank offering better conditions ".
In fact, a measure that would introduce competition in this important market – combining transparent information and the possibility of changing banks – would be directly supported by several thousand debtors and consumers. The precedent for mobile number portability leaves no doubt as to how greater consumer autonomy can stimulate a market and generate value for all participants.
The idea of digital pharmacies comes in. The same sense of consumer empowerment (allowing it to compare prices online) and, therefore, increased competition in this area. On the other hand, the proposal to avoid telephone harbadment by companies looking for customers makes it clear that free competition has limits such as respect for privacy.
The Chilean experience of recent years is as follows: The shortcomings of competition – due to shortcomings in policies, collusion of economic actors or for other reasons – seriously undermine confidence in the market economy. A renewed program for consumers is a sensible effort.
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