Aspects of Development and Underdevelopment
Joan Robinson shows how the economic mechanisms that produce wealth in the midst of growing misery can be understood. For this purpose she uses the classical theory of accumulation and the modern theory of international trade and finance. Her simple but penetrating analysis illuminates the problems of poverty, accumulation, industrialization and trade, while exposing misleading conceptions of the Third World. Throughout the book, general principles are demonstrated with particular examples, making those principles both clearer and more relevant. The book's conclusion is that the economic problems of the Third World remain rooted in deep-seated political conflicts of national and international interests.
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accumulation Adam Smith advantage agriculture borrowing buyers capital capitalist commodities competition consumers consumption costs crops cultivators currency debt deficit demand depends developing countries distribution donor economy employed employment expenditure export earnings favourable finance flow Ghana gross growing growth imports increase India industrialisation industry inequality inflation interest investment JOAN ROBINSON Keith Griffin labour force land landlords less loans luxury mainly manufactures means of production mechanisation ment military national income OPEC organised output payments peasants policies political population poverty problem productive capacity purchasing rate of exploitation rate of profit ratio reduce rent rentiers Ricardo rise sector sell sellers share slump stock of means supply surplus surplus value technical terms of trade theory Third World Third World countries tion transnational corporations UNCTAD unequal exchange wage bill wage rates wealth West Western workers