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Schumpeterian competition and its policy implications: The Latin American case

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  • José Tavares de Araújo Jr.

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.

Suggested Citation

  • José Tavares de Araújo Jr., 1999. "Schumpeterian competition and its policy implications: The Latin American case," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(4), pages 569-580.
    • Handle: RePEc:ekm:repojs:v:19:y:1999:i:4:p:569-580:id:1071
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1071/1056
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    More about this item

    Keywords

    Innovation; creative destruction; competition; neo-Schumpeterian analysis;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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