Development economists have argued that large-scale industrial policy is the best remedy to correct the “coordination failure” they claim prevents market economies from making the complementary investments needed to lift poor countries out of poverty. At the root of their argument is a misunderstanding of the entrepreneur’s role in fostering economic growth.
Coordination Economics, Poverty Traps, and the Market Process
A New Case for Industrial Policy?
By Bogdan Glăvan
This
article
appeared in
the Fall 2008 issue of The Independent Review.
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(16 pages)
Business and EntrepreneurshipEconomic PolicyEconomistsEconomyFree Market EconomicsPhilosophy and ReligionPublic Choice
| Other Independent Review articles by Bogdan Glăvan | |
| Winter 2012/13 | We Are Not Macroprudentialists:A Skeptical View of Prudential Regulation to Deal with Systemic Externalities |
