Schumpeterian competition and its policy implications: the Latin American case
In: Brazilian journal of political economy: Revista de economia política, Band 19, Heft 76, S. 3-14
ISSN: 0101-3157
Using the Schumpeterian notion of "creative destruction", this paper discusses the role of antitrust in the process of economic reform and illustrates with the Latin American case. According to that notion, the main instrument that allows firms to be ahead of their competitors is the introduction of informal asymmetries that may result either from technological innovation, rent seeking or organized crime. To the public authorities this process implies two challenges. The former is to identify the situations that require intervention and the latter is to ensure that innovation will be the only available instrument for creating informational asymmetries. (Rev Econ Polit/DÜI)