Stern (1990) commented on the debate of state vs. market
led growth and noted that “… we should not delude ourselves
that transition is easy, or indeed that the same formula is
appropriate to all countries. A careful and creative economic
analysis of potential reforms should leave us a number of
options and not a single economic blueprint”.
For us in the region, and indeed in Trinidad and Tobago, the
issue should not just be viewed as an overly simplistic contrast
between the private sector (the market) and the government.
It really should be a more complex question of the nature of
relationships among market, nonmarket, government and
state, and voluntary institutions, and the particular forms
that the government intervention takes and the role of the
governance structure in providing an enabling environment
for sustainable economic growth and development.
Marlene Attzs
Marlene Attzs, PhD, is the Ag. Coordinator of the Sustainable Economic
Development U