Reimagining Growth: Towards a Renewal of Development Theory, Volume 1842775847

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Zed Books, Aug 20, 2005 - Business & Economics - 308 pages
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For the past two decades, development theory has been trumped by development economics, while within economics itself the simplistic notions of neoclassical theory have prevailed with their assumption that markets, freed up from all institutional restraints (including the state), will automatically deliver much higher rates of growth and overall development. Conscious of the lamentable record of these policies in both developing countries and the rich industrial nations, the eminent economists and other social scientists who have collaborated in this volume take issue with these nostrums. They believe that the recurrent intellectual inadequacies and policy mistakes create an urgent need to rethink economics as a discipline and development as a process. In this volume the authors seek to present an innovative new approach to economic development, drawing from heterodox intellectual traditions within economics as well as from the other social sciences. Economics itself needs to redefine many of its concepts on the basis of actually observing the complex realities of functioning economies. And development needs to be reconceived as an inherently 'thick' process of social change, in which each country's particular history and institutional workings take centre stage, variously constraining or enabling different kinds of economic development processes at different times and places. This collection of major intellectual contributions and their eminent authors demand careful consideration. The intention is to point the way theoretically to a much more sophisticated understanding of economic development. The ultimate prize, if we can ground our theory in a more accurate analysis of social change, is policies that really will deliver higher economic growth and greater social justice worldwide.

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A Tour through the Contributions I I
Local and Global Connections
Planned Development
The Committed Character and Enthusiastic Reception of Cepalino Thought
Barterbased Economics as Harmonielehre a System of Automatic Harmony
How Economic Activities Differ and Why it Matters
Notes on the Contributors 298
The Necessity of Institutions and the Nature of Markets
The Role of Institutions in Economic Change
What Opportunities
Society Community and Economic Development
The Economic Contributions of Society and Community
How Society and Community Frame Incentives
Social Forces Politics and Economics
Some Keynesian Ideas about Economic Development and Poverty

Rethinking the Role of Institutions
A Spatial Keynesian Approach to Development Poverty and Discrimination

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About the author (2005)

Silvana De Paula is Associate Professor in the Graduate Program on Development, Agriculture and Society (CPDA) of the Federal Rural University of Rio de Janeiro in Brazil. Gary Dymski is Professor of Economics at the University of California.

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