Rethinking the political economy of development: back to basics and beyond

✍ Scribed by Frederick Nixson

• Publisher: John Wiley and Sons
• Year: 2006
• Tongue: English
• Weight: 126 KB
• Volume: 18
• Category: Article
• ISSN: 0954-1748
• DOI: 10.1002/jid.1331

✦ Synopsis

Abstract

This paper explores a number of key issues in Development Economics which should be central concerns of contemporary development debates but which rarely attract the attention they deserve. It argues that there were fundamental insights in much of the early theoretical work of the ‘first generation’ of development economists, including the Latin American structuralists, that remain important. It then discusses the view that much of this earlier work is in danger of being ignored, forgotten or for various ideological reasons, airbrushed out of history. Recent examples include the omission of Latin American structuralism from recent editions of otherwise highly regarded texts, the omission of any reference to Harrod or to Domar in another recently published book which purports to discuss the evolution of growth theory, and a third book focussing on Economic Growth which excludes both Harrod and Domar and gives Arthur Lewis only one mention. The main conclusion is that Development Economics has moved too far away from its core competencies, and that a move ‘back to basics’ is long overdue. Copyright © 2006 John Wiley & Sons, Ltd.