The Role of the State in the Building Sustainable Development: The Case of Tourism in the Caribbean Islands

The discussion about the relevance of state intervention in the market has been recurring in the history of economic thought. But tourism is another example that regulation is not only necessary, but fundamental to correct the asymmetries of a market that is far from fulfilling the assumptions that motivated the theory of individual interest leading to social benefits. The present work tries to emphasize the implications of ignoring the role of the state in building sustainable development, with special emphasis on tourism in the insular Caribbean. Adapted from the source document.