Westernizing the Third World: The Eurocentricity of Economic Development Theories

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ISBN: 9780415205733 | 0415205735
Cover: Hardcover
Copyright: 8/17/1999

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Westernizing the Third Worldexposes the dangers inherent in the use of eurocentric development theories and prescriptions. Arguing that both Classical theory and its postwar Neo-Classical theoretical counterparts are fundamentally flawed, the text discusses model building, macro-planning and the New Economic Order. The conclusion offers an examination of the future agenda for development studies.

List of figures

viii

List of boxes

Preface to the second edition

Westernizing the Third World

(32)

Defining key terms and delineating the scope of the study

(2)

The central argument of the study

(3)

What is Eurocentricity?

(3)

The trickle-down theory

(4)

The basic mainstream model

(2)

The flaws of the model

(5)

Capitalization: the inner logic of mercantilism, old and new

(4)

Appendix on capitalization

(5)

Classical (pre-1914) economic development theories

(25)

The Ricardian growth model

(3)

The Malthusian population theory

(6)

Trade as the engine of growth

(1)

Smith's vent-for-surplus theory

(4)

Ricardian comparative advantage theory

(6)

`Pure' trade theory: textbook analysis and empirical reality

(1)

Markets and ethics

(1)

Values, institutions and Eurocentricity

(2)

Postwar neo-classical theories, 1945--1973

(37)

New agenda, new terminology: the two-axes worldview

(5)

The golden age of modelling

(1)

Vicious circles of poverty and the population trap

(3)

The Big Push theory of industrialization

(3)

The Rostowian stages theory

(2)

Balanced versus unbalanced growth

(2)

Economic dualism: the Lewis two-sector model

(5)

Import substitution industrialization (ISI), export promotion and the infant industry argument

(5)

Neo-classical growth and distribution theories

(3)

The `trickle-down' theory and Western capitalism

(2)

Disenchantment with the `trickle-down' theory

(1)

Migration modelling

(2)

Gender bias of development

(1)

The basic needs approach

(3)

Model-building and macro-planning

(16)

Neo-classical structuralism

(1)

The mystique of planning

(2)

Macro-modelling

(13)

The new economic order: false start 1973

111

(10)

The four Dragons

113

(1)

The NIC challenge: the rise and fall of the Asian Dragons

114

(3)

The Asian currency collapse, 1997

117

(4)

The latest state of the art: economic development theorizing since 1980

121

(26)

The new institutionalism

122

(3)

Debt, deficit and structural adjustment

125

(8)

Sustainable development

133

(4)

Endogenous development: human capital revisited

137

(2)

Social capital

139

(1)

Globalization or tripolarity?

140

(5)

Towards a rule-based global trade system

145

(2)

Conclusion and future agenda

147

(22)

`Trade is not enough'

163

(1)

Reforming international relations

164

(3)

Development ethics

167

(2)

Bibliography

169

(23)

Index

192

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Westernizing the Third World: The Eurocentricity of Economic Development Theories

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Table of Contents

Supplemental Materials