Why Developing Countries Fail to Develop

Recent debt crises and consequent dislocations and distress in the underdeveloped world have shown that the development strategies of the last forty years were misconceived. No underdeveloped country during this period could become an industrially advanced country, despite the development schemes orchestrated by the World Bank. This results from the fact that mainstream economic theory ignores international and national constraints and their interactions with the dynamics of technological transformation. This book develops a completely articulated theory of economic interconnections to deal with underdeveloped country's situation.

Inhalt
List of Tables - List of Figures - Acknowledgements - Introduction - PART 1: THE CENTRAL ARGUMENT - The Development Dilemma - PART 2: DEVELOPMENT THEORY AND EXPERIENCE - Meta-Economics - A Synoptic View of Economic Historical States in Theoretical Perspective: Pre-Industrial Revolution - A Synoptic View of Industrial Revolution in Theoretical Perspective - Different Types of Developing Countries - PART 3: INTERNATIONAL FRAMEWORK FOR NATIONAL ECONOMIES - Determination of International Commodity Prices - Commodity Price Shocks and World Economies - Changing Export Income and Developing Country's Economy: A Diagrammatic Representation - PART 4: MACROECONOMICS OF DEVELOPING COUNTRIES - Macroeconomics of Economic Subordination and Drain - Wage Goods Constraint for Employment and Development - Violations of Macro Constraints and Inflation: Different Types of Demand Pull and Cost Pull: Indian Illustrations - PART 5: MICROECONOMICS OF DEVELOPING COUNTRIES - Role of Scarcity Value and Market Price - Implications of Adopting Modern Technology - Economics of Technology Transfer - PART 6: STRATEGIES FOR DEVELOPMENT - The Role of Subsidies and Import Controls in Modernising Low Income Countries - Partnership in Development? - Foreign Exchange Constrained Developing Economies - Why International Price Structures Differ - Notes - Index