The renowned Catalan economist, Professor of Development Economics at Columbia and creator of the Global Competitiveness Index for the World Economic Forum, Xavier Sala-i-Martín, was the keynote speaker at the March 18 seminar “Keys to Sustainable Economic Growth: Reactivating Industry in Chile,” organized by Grupo CAP (Chile’s leading mining and steel group) and Icare, the Chilean Institute for Rational Business Management.
Following opening remarks by ICARE and CAP presidents Holger Paulmann and Juan Enrique Rassmuss, respectively, Sala-i-Martín addressed over 300 business leaders, trade union representatives, and opinion leaders. He discussed the challenges of reviving the Chilean economy and outlined the reforms necessary to achieve sustainable growth, focusing particularly on the role of public policy. Emphasizing that “there are many paths to development” and that what works in one place or time may not work in another, he remarked, “Since no one knows what will happen in Chile, the only alternative is experimentation, learning through trial and error. It is very important for the state to adopt an entrepreneurial mindset and recognize that failure is part of the path to success.” He further highlighted the need for public policies that encourage innovation and adaptability in the face of uncertainty.
After his keynote, Sala-i-Martín joined a panel discussion moderated by journalist Soledad Onetto. Panelists Susana Jiménez, President of the Confederation of Production and Commerce (CPC); economist Óscar Landerretche; and Nicolás Burr, CEO of Grupo CAP, further explored these themes.
