My Son, the Libertarian Economics Major
Conversation over text today between my wife and my son who is in Venice:
wife: "So the gondola ride wasn't the highlight?"
son: "It was pretty fun... I just kept thinking about the economic barriers to entry into that field. They are basically a closed guild."
So, I'm a proud Grandma???
Surprahz, surprahz.
Well, the whole Italy is a closed guild
Venice is wasted on him; clearly he's either too young or too old.
A real romantic, eh.
Shhhh! Mooooooom!
There are costs and benefits to guild systems, which are much stronger outside the US (Canada, Netherlands, etc.). The main benefit is professionalism, but innovation is lower and costs higher. What would you want as a tourist in Venice? An expensive, but excellent experience or the risk of getting dumped in the wash by a bad singer? ;)
River boat pilots in New Orleans: a closed guild.