Download e-book for kindle: A History of Development Economics Thought: Challenges and by Shahrukh Rafi Khan

By Shahrukh Rafi Khan

ISBN-10: 0415676304

ISBN-13: 9780415676304

This e-book explores the background of financial improvement notion, with an emphasis on substitute techniques in macro improvement economics.

Given that the pioneers of improvement economics within the Nineteen Forties and Fifties drew concept from classical political economists, this publication opens with a assessment of key classical students who wrote in regards to the development of the wealth of countries. In reviewing the considering the pioneers and those who undefined, either their theories of improvement and underdevelopment are mentioned. total, the booklet charts the evolution of improvement monetary suggestion from the early developmentalists and structuralists, via to the neo-Marxist strategy and radical improvement idea, the neo-liberal counter revolution, and the controversy among new developmentalists and neo-liberal students. It ends with an overview of the nation of the sphere this present day.

This ebook could be of curiosity to all students and scholars attracted to the evolution of improvement economics.

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Rosenstein-Rodan started with the presumption that industrialization was not only good for the depressed areas but also for the world as a whole via trade creation. But if development in backward areas was left to internal capital accumulation, it would entail a tremendous sacrifice of consumption in already poor areas. He noted that either capital needed to migrate to surplus labor regions or surplus labor needed to migrate to capital rich areas. However, capital flow was politically more palatable than migration and would therefore need to represent the bulk of the movement.

In fact, Lewis argued that in some situations marginal product in agriculture could be less than zero because of overcrowding and irrational, inefficient production. In this case agricultural output would actually rise as a result of rural-urban migration. However, the central assumption of his model was not that marginal product in agriculture was zero or negative as sometimes suggested. Instead, it was the reasonable assumption that wages in agriculture were less than those prevailing in the industrial sector (p.

Imperialism: A Study. London: George Allen & Unwin, Ltd. Hodgskin, T. 1966. Popular Political Economy. New York: Augustus M. Kelly Publishers. Lenin, V. 1947. ” In: The Essentials of Lenin, Vol. 1. London: Lawrence & Wishart. Luxemburg, R. 1951. The Accumulation of Capital, translated from the German by Agnes Schwarzchild. London: Routledge & Kegan Paul, Ltd. Mill, J. S. 1904. Principles of Political Economy with Some of their Applications to Social Philosophy. New York: Longmans, Green, and Co.

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A History of Development Economics Thought: Challenges and Counter-challenges by Shahrukh Rafi Khan

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