This book presents the debate between developmentalists and neoclassical liberals on economic development and stagnation in a clear, accessible way. It also serves as a valuable study guide for students and professionals, incorporating key Latin American contributions.
This book presents the debate between developmentalists and neoclassical liberals on economic development and stagnation in a clear, accessible way. It also serves as a valuable study guide for students and professionals, incorporating key Latin American contributions.
Foreword Luiz Carlos Bresser-Pereira Preface Figures and Tables Introduction Economic Development and Stagnation: the Different Theoretical Views An Illustrative Case: Brazil from Economic Development to Stagnation What to Expect from This Book Organisation of the Book Part 1: The Developmental School Prologue to Part 1 1 The Conceptual Roots of Developmentalism 1 Introduction 2 Smith and Increasing Returns 3 Marx and Capital Accumulation 4 Schumpeter and Technological Progress as a Process of “Creative Destruction” 5 Conclusion 2 Classical Developmentalism and Its Recent Unfoldings 1 Introduction 2 Economic Development as Structural Change: the Lewis Model with Unlimited Labour Supply 3 The Big Push Model and Development as a Balanced Process 4 Production Linkages and Development as an Unbalanced Process 5 Industrialisation, Deindustrialisation and Stagnation 6 Conclusion 3 The Centre-Periphery Model and eclac’s Political Economy: Yesterday and Today 1 Introduction 2 The Centre-Periphery Model as a Theoretical Basis for Latin American Developmental Structuralism 3 eclac’s Political Economy and the Developmental State 4 eclac’s Neostructuralism and the Centre-Periphery Model Today 5 Conclusion 4 Underdevelopment, Development, and Stagnation: Celso Furtado’s Theoretical Relevance 1 Introduction 2 Underdevelopment, Development and Stagnation under Furtado’s View 3 The Dutch Disease and the Resource Curse: Furtado’s Seminal Analysis 4 Conclusion 5 Prologue to New Developmentalism: Notes on the Inflation Targeting Regime and Fiscal Austerity 1 Introduction 2 Inflation Targeting Regime 3 Fiscal Austerity 4 Conclusion 6 New Developmentalism: Integrating Macroeconomics with Development Theory 1 Introduction 2 The Central Theses of New Developmentalism 3 Critical Points of the New Developmental Theory 4 Conclusion 7 Conclusion and Policy Implications of Part 1: in Defence of the Return of National Development Plans Part 2: The Neoclassical Liberal School Prologue to Part 2 8 International Trade Theories and the Case for Free Trade 1 Introduction 2 New International Trade Theories and the Reaffirmation of Free Trade 3 Conclusion 9 The Neoclassical Macroeconomics of Growth 1 Introduction 2 Growth Models in Closed Economies 3 Neoclassical Growth Models in Open Economies 4 Neoclassical Growth Models: the Developmental Critique 5 Conclusion 10 The Washington Consensus and the Ideology of Neoliberalism 1 Introduction 2 The Bretton Woods Era and Regulated Liberalism 3 The Washington Consensus and the Spread of Neoliberalism 4 Conclusion 11 Conclusion and Policy Implications of Part 2: Market Failures as a Criterion for Adopting Public Policies A Critical Evaluation of the Neoclassical Liberal Argument 1 Market Failures as a Criterion for Adopting Public Policies: the Neoclassical Liberal Argument 2 Market Failures: a Critique of the Neoclassical Liberal Argument Conclusion Bibliography Index
Foreword Luiz Carlos Bresser-Pereira Preface Figures and Tables Introduction Economic Development and Stagnation: the Different Theoretical Views An Illustrative Case: Brazil from Economic Development to Stagnation What to Expect from This Book Organisation of the Book Part 1: The Developmental School Prologue to Part 1 1 The Conceptual Roots of Developmentalism 1 Introduction 2 Smith and Increasing Returns 3 Marx and Capital Accumulation 4 Schumpeter and Technological Progress as a Process of “Creative Destruction” 5 Conclusion 2 Classical Developmentalism and Its Recent Unfoldings 1 Introduction 2 Economic Development as Structural Change: the Lewis Model with Unlimited Labour Supply 3 The Big Push Model and Development as a Balanced Process 4 Production Linkages and Development as an Unbalanced Process 5 Industrialisation, Deindustrialisation and Stagnation 6 Conclusion 3 The Centre-Periphery Model and eclac’s Political Economy: Yesterday and Today 1 Introduction 2 The Centre-Periphery Model as a Theoretical Basis for Latin American Developmental Structuralism 3 eclac’s Political Economy and the Developmental State 4 eclac’s Neostructuralism and the Centre-Periphery Model Today 5 Conclusion 4 Underdevelopment, Development, and Stagnation: Celso Furtado’s Theoretical Relevance 1 Introduction 2 Underdevelopment, Development and Stagnation under Furtado’s View 3 The Dutch Disease and the Resource Curse: Furtado’s Seminal Analysis 4 Conclusion 5 Prologue to New Developmentalism: Notes on the Inflation Targeting Regime and Fiscal Austerity 1 Introduction 2 Inflation Targeting Regime 3 Fiscal Austerity 4 Conclusion 6 New Developmentalism: Integrating Macroeconomics with Development Theory 1 Introduction 2 The Central Theses of New Developmentalism 3 Critical Points of the New Developmental Theory 4 Conclusion 7 Conclusion and Policy Implications of Part 1: in Defence of the Return of National Development Plans Part 2: The Neoclassical Liberal School Prologue to Part 2 8 International Trade Theories and the Case for Free Trade 1 Introduction 2 New International Trade Theories and the Reaffirmation of Free Trade 3 Conclusion 9 The Neoclassical Macroeconomics of Growth 1 Introduction 2 Growth Models in Closed Economies 3 Neoclassical Growth Models in Open Economies 4 Neoclassical Growth Models: the Developmental Critique 5 Conclusion 10 The Washington Consensus and the Ideology of Neoliberalism 1 Introduction 2 The Bretton Woods Era and Regulated Liberalism 3 The Washington Consensus and the Spread of Neoliberalism 4 Conclusion 11 Conclusion and Policy Implications of Part 2: Market Failures as a Criterion for Adopting Public Policies A Critical Evaluation of the Neoclassical Liberal Argument 1 Market Failures as a Criterion for Adopting Public Policies: the Neoclassical Liberal Argument 2 Market Failures: a Critique of the Neoclassical Liberal Argument Conclusion Bibliography Index
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