Mission: Impossible - Learning to learn, innovating instead of copying and escaping the trap - A perspective from “the rest”.

This research paper examines the role of industrial policies and innovation strategies in Latin America's quest for economic development. Despite the region's potential, persistent challenges such as coordination deficits and limited technology absorption continue to impede progress. Through a review of productivity data and historical perspectives on industrial policies in four Latin American countries, this paper highlights the complexities of state intervention and the importance of strategic alignment with innovation agendas. Additionally, it explores the interplay between industrial policies and innovation strategies, emphasizing the need to nurture indigenous capabilities and promote inclusive innovation. By challenging conventional views on informality in the labor market, this paper advocates for a holistic approach that integrates targeted industrial policies with innovation strategies to drive sustainable growth and inclusive prosperity in Latin America.