VOL. 1, NO. 3, PGS. 46–55


The Role of Business in Society
A Review of Opinions in Venezuela

This report explores the views of representatives of academia and industry in Venezuela on the role of business, particularly private enterprise, in a market economy and in the national context.

A market economy is an economic system in which prices are set according to supply and demand —that is, according to the relationship between the quantity of goods and services for sale and the number of people who want to buy them— and there is little government intervention or central planning.

The market is a) the place where buyers and sellers of goods or services conduct transactions, sometimes through an intermediary; and it is also b) the whole group of potential buyers for a good or service.

This report was originally published in April 2016 in this magazine's predecessor internet forum.

This report was prepared by Javier Toro.

This translation has been automatically generated and has not been verified for accuracy.

About this research

This report is based on desk research and in-depth interviews. The following persons (listed in alphabetical order by surname) participated in the interview programme:

  • Francisco Martínez, President of the Federation of Chambers and Associations of Commerce and Production of Venezuela (FEDECÁMARAS).
  • Luis Mata Mollejas, President of the National Academy of Economic Sciences.
  • Juan Pablo Olalquiaga, President of the Venezuelan Confederation of Industrialists (CONINDUSTRIA).
  • Enrique Planchart, Rector of the Simón Bolívar University.
  • Cipriana Ramos, President of the National Council of Commerce and Services (CONSECOMERCIO).
  • Benjamín Scharifker, Rector of the Metropolitan University.

What is the company and why does it exist?

The enterprise is an entity involved in the provision of goods and services. “The purpose of enterprises is to contribute to the rational use of natural and human resources to satisfy the needs of the population,” says Luis Mata Mollejas, president of the National Academy of Economic Sciences. Its role is essential. For Enrique Planchart, Rector of the Simón Bolívar University, “the enterprise is a fundamental unit within the economy and within a normal society”.

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