Monday 21 June 2021

How Economic Freedom Helps Chile Withstand Earthquakes and Tsunamis

Chile is a country that shakes every day, so it does not seem to be an ideal place to live. However, its immigration rates tell another story. (Photo from Youtube).

(Q24N) A few days ago, a 7.7 magnitude earthquake shook the south of Chile. Its epicentre was 67 kilometres northwest of Melinka, in Aysén, and generated a tsunami alert in certain coastal sectors of Los Lagos.

The earthquake was felt in five regions of the country, but it was the southern area of Chiloé was the most affected.

- Advertisement -

In the end, there were no victims. Only a couple of very old houses destroyed, and a highway near the area was damaged as well.

An earthquake of this magnitude would cause total destruction in other areas of the world that are not prepared. A 7.0 earthquake was enough to wipe out 90 percent of Haiti’s infrastructure back in 2010.

Chile is a special country. It is long and narrow, with more than 4,000 kilometres of coastline. It has a mountain range that separates it from the continent, pushing it toward the sea.

The nation is located at the junction of three tectonic plates (South American, Nazca and part of Antarctica). It has more than 3,000 volcanoes throughout the country, and several of these are active — there have already been incidents of serious eruptions.

- Advertisement -

Additionally, Chile is also located at the end of the so-called “Ring of Fire,” a seismic cord that begins in Australia. Given that the South American country has so much coastline, each earthquake implies a serious risk of tsunami.

Chile is a country that trembles every day, so it does not seem to be an ideal place to live. However, its immigration rates seem to tell another story.

Despite the natural risks, why is it a good decision to immigrate to Chile? The answer is simple.

Social and economic advantages are powerful factors in making immigration decisions. In addition, it is already evident that unless there is an earthquake of apocalyptic nature, which could cause a cataclysmic tsunami (as happened in 2010), Chile is likely to suffer only minor setbacks that can be resolved in the short-term.

Economic freedom has allowed people to choose high-quality, anti-seismic properties that move with the land during the quakes, so that they do not fall. They suffer only minor damages during disasters that could destroy infrastructure.

Free competition has allowed investment to flow into the country, and create jobs that help people to buy goods. Moreover, it has caused the prices of those goods to be accessible without sacrificing their quality.

- Advertisement -

People that aim to start businesses in Chile tend to have few obstacles, and many incentives to create wealth. In this process, they improved the infrastructure around them, allowing the beautification of the country. Order and cleanliness became the norm, leaving less and less poverty — reducing it much more than any other country in Latin America (11 percent).

Institutions focused on providing the foundations to development, and this brought order to the country. Today, however, they create obstacles to entrepreneurship, and that has had negative effects on the economy.

It is no longer the mercantilism of the sixteenth century at play here, in which some sought to accumulate wealth at the expense of others. This is about investing and helping all those involved in growth, creating goods and services, improving ideas that made people’s quality of life better.

In 1939, an earthquake of similar characteristics destroyed the whole city of Chillan, causing thousands and thousands of deaths. The story repeated itself in 1960, with the total destruction of Valdivia.

Today, we can say that the earthquake of 2010 (8.8 on the Richter scale), though it caused very serious damage, did not have a massive effect on human losses. Rather, what devastated the country was the tsunami, since there is no architecture able to resist it yet. Reconstruction was quite fast and organized, to the point that today there are no traces of a tsunami ever having damaged them.

We can also say that our economic boom has allowed the country’s institutions to prepare themselves, and to create an infrastructure that can withstand significant earthquakes with almost no material or human loss.

The system is not perfect because there is still too much state control, which makes it susceptible to collusion and undue associations. Nonetheless, it also produces virtuous partnerships that save lives and create progress.

Can a statist system create anti-seismic infrastructure? Of course, but always at the cost of freedom.

Definitively, the statist, anti-capitalist, anti-system and anti-inequality progressive movement has not understood yet that freedom is, ultimately, life.

This article originally appeared on Panampost.com

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Plate rupture has potential for stronger quakes

QCOSTARICA - The 5.7-magnitude tremor, felt at 5:27 pmon Thursday, occurred...

11 Latin American and Caribbean countries lead Costa Rica in percentage of vaccinated

QCOSTARICA - Costa Rica ranks 12th of Latin America and the...

MOST READ

Today’s Vehicle Restriction June 20: only “EVENS” can circulate

Today, Sunday, June 20, only vehicles with "EVEN" ending plates CAN circulate The measure is countrywide and applied between 5:00 am and 9:00 pm, save...

Internet speed decreases during peaks in service

QCOSTARICA - Ever wonder why your surfing on the Internet slows down, to even a crawl, mainly in the evenings? This is due to...

Since 2018 MECO has received contracts from the State for more than ¢139 billion

QCOSTARICA - Almost ¢140 billion colones (US$227 million dollars) is the amount the MECO construction company was able to snare for public works contracts...

Today’s Vehicle Restriction June 18: 9 & 0 CANNOT circulate

Today, Friday, June 18, vehicles with plates ending 9 & 0 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Vaccination commission endorses J & J vaccine, says no to Sinovac

QCOSTARICA - The Comisión Nacional de Vacunación y Epidemiología (CNVE)  - National Vaccination and Epidemiology Commission - endorsed the use of Johnson and Johnson...

Today’s Vehicle Restriction June 15: 3 & 4 CANNOT circulate

Today, Tuesday, June 15, vehicles with plates ending 3 & 4 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

New trends in coffee consumption challenge sector

QCOSTARICA - Changes in consumption habits in terms of times, types of preparation and specialties challenge the coffee sector. Most of the consumers in Costa...

Informants assisted OIJ in corruption investigations, says the minister

QCOSTARICA - The investigation into alleged bribery of public officials in exchange for contracts for road works, received help from informants within the Consejo...

Heavy downpours generated the first phreatic eruption of this year at the Turrialba volcano

QCOSTARICA - Several residents of La Pastora, La Central and Monte Calas, in the vicinity of the Turrialba volcano, heard a loud rumbling early...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.