1st Edition

Development Economics Aptly or Wrongly Named?

Edited By Natalia Bracarense, Louis-Philippe Rochon Copyright 2022
    180 Pages
    by Routledge

    180 Pages
    by Routledge

    Since the inception of development economics in the post-World War II period, most of its proponents have prescribed the adoption of western institutions as the path for prosperity – the unequivocal solution for poverty, illiteracy, hunger, inequality, and violence in the world. Seventy years of attempts, or at least the pretense thereof, to reproduce the western model in completely different historical and cultural contexts have proven to be no more than a mirage for most.

    Faced with this scenario, why do economists insist on the ideas of development, convergence, and emulation of the lifestyle of western countries? Is it possible to disassociate development from multidimensional instability, dependency, subordination, and exploitation? Is the current social, political, ecological, and economic organized destabilization observed in the western countries a model to follow, a desirable end of history? These questions raised earlier by some fellow economists, have become ever more pressing in the present context of generalized instability. The book questions how ethical and professionally responsible it is for economists to continue to undiscerningly prescribe miraculous one-size-fits-all market-oriented models to solve socio-economic problems everywhere. The contributors of this edited volume invite the readers to consider these questions and further similar inquiries in the future.

    The chapters in this book were originally published as a special issue of the journal Review of Political Economy.

    The Aptly or Wrongly Named Development Economics: An Introduction to New Perspectives and Models

    Natalia Bracarense

    1. Underdevelopment and Dependence: The Fundamental Connections

    Celso Furtado

    2. The Myth of Economic Development and the Future of the Third World

    Celso Furtado

    3. Celso Furtado and the Myth of Economic Development: Rethinking Development from Exile

    Pedro Loureiro, Fernando Rugitsky and Alfredo Saad-Filho

    4. Growth, Distribution, and External Constraints: A Post-Kaleckian Model Applied to Brazil

    Douglas Alencar, Frederico G. Jayme and Gustavo Britto

    5. The Limitations of International Relations Regarding MNCs and the Digital Economy: Evidence from Brazil

    Marcos Vinícius Isaias Mendes

    6. Keynes on State and Economic Development

    Fábio Henrique Bittes Terra, Fernando Ferrari Filho and Pedro Cezar Dutra Fonseca

    7. Capital Flows to Latin America (2003–17): A Critical Survey from Prebisch’s Business Cycle Theory

    Roberto Lampa

    8. Institutions and Development From a Historical Perspective: the Case of the Brazilian Development Bank

    Alex Wilhans Antonio Palludeto and Roberto Alexandre Zanchetta Borghi

    9. Institutional Change in Nepal: Liberalization, Maoist Movement, Rise of Political Consciousness and Constitutional Change

    Kalpana Khanal and Natalia Bracarense


    Natalia Bracarense is Associate Professor of Economics at North Central College, Naperville, USA, and an ATER at SciencesPo Toulouse, France. Specialised in International Political Economy and History of Economic Thought, Dr. Bracarense analyses the historical unfolding of development policies implemented in several countries to inform economic theory towards a framework that views economic transformation as a non-linear and non-teleological process.

    Louis-Philippe Rochon is Full Professor of Economics at Laurentian University, Canada. He is the Editor-in-Chief of the Review of Political Economy and the founding Editor (now Emeritus) of the Review of Keynesian Economics. He has published over 150 book and journal articles and written or edited over 30 books.