First published in 2002. Routledge is an imprint of Taylor & Francis, an informa company.

This textbook includes discussions of such topics as the environment, the debt case, export-led industrialization, import substitution industrialization, growth theory and technological capability.

Making Poor Nations Rich illustrates the importance of institutions that support economic freedom and private property rights for promoting the form of productive entrepreneurship that leads to sustained increases in countries' standard of living.

This third edition of a classic text continues to be an invaluable resource for all students and researchers in the fields of development economics and development studies. Reflecting recent developments, it includes new material on: national systems of innovation including the information technology boom in India, the ongoing impact of globalization and the continuing programmes of foreign aid across all developing countries.

This book presents a model of economic development in what are generally termed as mono-cultural economies, applied largely to Japan, but also including empirical evidence from other countries. A major feature of the book is the theory which explains the mechanism of industrial development in an originally subsistence economy with a very limited capitalist sector. The theory explains a "take-off" in industrialization as well as the possibility of its failure within a consistent model, which takes into account the important role of food and labor supply, as well as the performance of the subsistence sector in this process. This book will interest anyone concerned or involved with the Japanese economic system.

The fourth edition of The Process of Economic Development offers a thorough and up-to-date treatment of development economics. This landmark text will continue to be an invaluable resource for students, teachers and researchers in the fields of development economics and development studies. The new edition has been revised and updated throughout, reflecting the most recent developments in research and incorporating the latest empirical data, as well as key theoretical advances. The period since the publication of the third edition of The Process of Economic Development has been a time of immense change in the developing world. The period has seen huge economic growth in China, economic restructuring in India and the continuing impact of environmental issues such as climate change. The fourth edition reflects these developments, as well as including numerous case studies and new material on the following: transnational corporations and labor in export processing zones industrial policy and structural change gender inequality, income distribution and development progress towards the Millennium Development Goals technology and national innovation systems aid and the least developed nations the post debt crisis era and debt relief for Africa. Cypher’s comprehensive account remains the development economics text par excellence, as it takes a much more practical, hands-on view of the issues facing developing countries than other, overly mathematical texts. This book is unique in its scope and in the detailed attention it gives to the historical contexts that have influenced progress toward development. It is accessibly written both for students of economics and for those with an interest in the many aspects of development studies.

Nations and Households in Economic Growth: Essays in Honor of Moses Abramovitz is a collection of papers that reflect the broad sweep of Moses Abramovitz's interests within the disciplines of economics and economic history. This work is organized into two parts encompassing 14 chapters. The first part discusses the individual and social welfare significance of quantitative indices of economic growth. This part also deals with the mechanisms of economic-demographic interdependence and their bearing particularly upon "long swings in the rate of growth. The second part highlights the changing role of international relations in processes generating national economic development and domestic economic instability. This book will be of value to economists, historians, and researchers.

Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by "social and other meddlers." In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact.Of those who argue against him, Schumpeter asks a fundamental question: "Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?" In his answers, Schumpeter offers guidance to Third World politicians no less than First World businesspeople.In his substantial new introduction, John E. Elliott discusses the salient ideas of The Theory of Economic Development against the historical background of three great periods of economic thought in the last two decades.

Schumpeter first reviews the basic economic concepts that describe the recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what Schumpeter calls "the circular flow of economic life," such as consumption, factors and means of production, labor, value, prices, cost, exchange, money as a circulating medium, and exchange value of money. The principal focus of the book is advancing the idea that change (economic development) is the key to explaining the features of a modern economy. Schumpeter emphasizes that his work deals with economic dynamics or economic development, not with theories of equilibrium or "circular flow" of a static economy, which have formed the basis of traditional economics. Interest, profit, productive interest, and business fluctuations, capital, credit, and entrepreneurs can better be explained by reference to processes of development. A static economy would know no productive interest, which has its source in the profits that arise from the process of development (successful execution of new combinations). The principal changes in a dynamic economy are due to technical innovations in the production process. Schumpeter elaborates on the role of credit in economic development; credit expansion affects the distribution of income and capital formation. Bank credit detaches productive resources from their place in circular flow to new productive combinations and innovations. Capitalism inherently depends upon economic progress, development, innovation, and expansive activity, which would be suppressed by inflexible monetary policy. The essence of development consists in the introduction of innovations into the system of production. This period of incorporation or adsorption is a period of readjustment, which is the essence of depression. Both profits of booms and losses from depression are part of the process of development. There is a distinction between the processes of creating a new productive apparatus and the process of merely operating it once it is created. Development is effected by the entrepreneur, who guides the diversion of the factors of production into new combinations for better use; by recasting the productive process, including the introduction of new machinery, and producing products at less expense, the entrepreneur creates a surplus, which he claims as profit. The entrepreneur requires capital, which is found in the money market, and for which the entrepreneur pays interest. The entrepreneur creates a model for others to follow, and the appearance of numerous new entrepreneurs causes depressions as the system struggles to achieve a new equilibrium. The entrepreneurial profit then vanishes in the vortex of competition; the stage is set for new combinations. Risk is not part of the entrepreneurial function; risk falls on the provider of capital. (TNM).

The effective use of development economic theories in practice is limited, the authors contend, by the lack of explicit criterion for judging their scientific content. The directional progress of critical research and teaching is also constrained by this deficiency. This study advances a meta-theory designed to assist in evaluating the scientific validity of theories in economic development and how these theories can be improved to assist social practice. Using this model, the study then examines existing theories, dividing them into explanatory and prescriptive theories. The explanatory theories include the stage-based theories of Marx, Schumpeter, and Rostow, and factor-based theories, including capital-based, human-capital-based, and technology-based theories. The prescriptive theories include explanatory-theory-based prescriptions, interventionist prescriptive theories, and theories of economic planning. In conclusion, the authors contend that modern analysis of development economics is plagued with logical ills, misleading notions, and a weak theoretical structure that lacks scientific appeal. Most of the theories, except for those of Marx and Schumpeter, neglect an analysis of the mechanism of change.