Schumpeterian competition and its policy implications: The Latin American case

José Tavares de Araújo ()

Brazilian Journal of Political Economy, 1999, vol. 19, issue 4, 569-580

Abstract: Using the Schumpeterian notion of Creative Destruction, this paper discussesthe role of antitrust in the process of economic reform and illustrates with the Latin Americancase. According to that notion, competition is a process wherein firms strive to surviveunder an evolving set of rules that engenders winners and losers. The main instrument thatallows firms to be ahead of their competitors is the introduction of informational asymmetriesthat 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 thesituations that require intervention and the latter is to ensure that innovation will be theonly available instrument for creating in- formational asymmetries. JEL Classification: O31; B51; D82.

Keywords: Innovation; creative destruction; competition; neo-Schumpeterian analysis (search for similar items in EconPapers)
Date: 1999
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