Rethinking Development Economics

This important collection tackles the failure of neoliberal reform to generate long-term growth and reduce poverty in many developing and transition economies. As dramatically demonstrated in the collapse of the WTO's Seattle talks, there is increasing dissatisfaction, in both developing and developed countries, with the emerging neoliberal global economic order. The resignations of Joseph Stiglitz and Ravi Kanbur from the World Bank emphasize that this disillusionment with the orthodoxy now exists at the very heart of the establishment. Yet the increasing demand for an alternative to this orthodoxy is not being met. Over the last few decades, the older generation of development economists have been edged out of most major universities, particularly in the USA. The situation in most developing countries is even worse: although there is more demand for alternatives to orthodox development economics, these countries have even less capability to generate such alternatives. Rethinking Development Economics is intended to fill this gap, addressing key issues in development economics, ranging from macroeconomics, finance and governance to trade, industry, agriculture and poverty. Bringing together some of the foremost names in the field, this comprehensive and timely collection constitutes a critical staging post in the future of development economics.

Dr Ha-Joon Chang has taught at the Faculty of Economics and Politics, University of Cambridge, since 1990. His publications include Joseph Stiglitz and the World Bank: the Rebel Within (Anthem Press, 2002) and Kicking Away the Ladder: Development Strategy in Historical Development (Anthem Press, 2003). Together with Richard Nelson of Columbia University, he is the winner of the 2005 Leontief Prize.