Open AccessValue and quality creation: natural resources, industrialization and standards of living in peru 1950 to 1997
Author(s) -
Santiago Roca,
Luis Simabuko
Publication year - 1999
Publication title -
cuadernos de difusión
Language(s) - English
Resource type - Journals
eISSN - 1815-6606
pISSN - 1815-6592
DOI - 10.46631/jefas.1999.n9-10.05
Subject(s) - industrialisation , standard of living , value (mathematics) , latin americans , natural resource , industrial policy , quality (philosophy) , business , economic system , economics , development economics , market economy , international trade , political science , philosophy , epistemology , machine learning , computer science , law
Peru”s recent economic policy, like that of most Latin American countries! has followed the paradigm of the socalled “Washington Consensus”. Such paradigm precludes the implementation of “strategic” industrial policies as well as the active and deliberate construction of competitive advantages through measures that foster certain sectors or activities. “Washington-Consensus” thinkers hold that the “magic of the market” and its indiscriminate opening will allow countries to acquire the necessary long-term external competitiveness, promote economic growth and enhance standards of living, regardless of the country”s productive specialization.