Paul Romer, 2018 Nobel Prize in Economics, identifies mining as an engine of development

On the first day of the XV International Mining Meeting, organized by the National Society of Mining, Petroleum and Energy (SNMPE), the 2018 Nobel Prize in Economics, Paul Romer, highlighted the role played by the mining sector as an engine of the country’s development .

Likewise, the creator of the concept of the “economy of ideas” explained during the Macroeconomic and Geopolitical Perspectives block—and its impact in Latin America— the importance of the growth of communities at a global level. In this sense, he highlighted the contribution and cooperation of sectors such as mining through national and regional authorities.

In line with the renowned American economist, the concept proposed maintains that through the generation and dissemination of new ideas, human progress and the global economy can be promoted. Consequently, countries like Peru can take advantage of the resources generated by society to create development opportunities that benefit the population.

“Peru has the opportunity to benefit from the economy of ideas and stand out on the world stage. To do this, it needs its main leaders and decision makers to be able to support the development of infrastructure and social gaps that urgently need to be addressed in the most remote regions of the country. In this way, the mining sector is presented as an important axis that leverages local growth and the improvement of the quality of life of its communities,” he said.