Abstract

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, competition is a process wherein firms strive to survive
under an evolving set of rules that engenders winners and losers. The main instrument that
allows firms to be ahead of their competitors is the introduction of informational 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 in- formational asymmetries.

JEL Classification: O31; B51; D82.