This volume is divided into two thematic parts: economic growth (or its absence) in developing countries; and contributions to the debate on the role of the state versus the market. It outlines possible policy prescriptions of relevance both in the North and South.

Book offers a systematic examination of new directions and features contributions from some of the leading scholars in development ethics and economic development.

Presents the contributions that early development theory can make to growth economics in answering why some countries are richer than others and why some economies grow faster than others.

"In all, New Directions in Post-Keynesian Economics proves that the intellectual vision for the realization of the Keynesian revolution is abundant. John Hillard, European Association for Evolutionary Political Economy Newsletter "The Pheby-edited essays should prove useful to anyone interested in post-Keynesian economics. The level of exposition makes them accessible to advanced undergraduates without being too pedestrian for scholars in the field. Dudley Dillard, The Eastern Economics Journal

Economists from all heterodox traditions of political economy will benefit from reading this book both for its confirmation of many of the basic precepts of classical, Marxian and Harrodian economics and the challenges it poses for its trenchant Post-Keynesian/Kaleckian critics, for whom short-period analytics of effective demand can and should be extended to long-period analysis. While his critique of the principle of effective demand for the long run would leave many Post-Keynesians uncompromising, the strong Keynesian view held by the author on the necessity for public-sector capital budgeting, and a developmental state upon which ought to be grafted a long-term growth policy based on public investment would certainly find strong resonance in the context of the global economic crisis. Mario Seccareccia, University of Ottawa, Canada and Editor of the International Journal of Political Economy Jamee K. Moudud s book is in the best tradition of dynamic economics stemming from the work of Harrod and Kalecki. Moudud demonstrates a solid command of the intellectual history of his subject. His insightful critical survey of the growth literature focuses on an often neglected dimension of the topic, i.e. the question of how real-world firms make decisions about capacity utilization and capacity creation. This discussion grounds Moudud s subsequent theoretical analysis of the disequilibrium dynamics of cyclical growth. The book is that rarest of things both a useful teaching tool and an original contribution in its own right. Graduate students will find it a superb introduction to the analytical issues that are at the center of economists debates about growth, economic development and the business cycle. Growth theorists will find in it much to stimulate and challenge their thinking. Gary Mongiovi, St John s University, US and Co-Editor, Review of Political Economy The pillar upon which this magnificent must-read volume was erected is strategic competition, a theory that cogently authenticates the concentration and centralization of capital. This stands in stark contrast against the fanciful neoclassical perfect completion and its methodological double, imperfect competition. In Strategic Competition, Dynamics, and the Role of the State, Jamee Moudud has taken a novel approach to the study of macrodynamics. Here turbulence and crisis are deemed inseparable from the dynamics of capitalist economies and the last three decades of neoliberal policies are eloquently called into question. Moudud also provides a timely and effective critique of both new Keynesian and post-Keynesian approaches to macroeconomic theory and policy. Cyrus Bina, University of Minnesota (Morris Campus), US and an Editor of the Journal of Critical Studies on Business and Society The current economic crisis has thrown into disrepute the representative agent models at the forefront of the microfoundations agenda. Jamee Moudud takes a different approach, going back to first principles to re-establish the theory of the firm and the nature of market competition. The result is an important addition to two ongoing quests in macroeconomics: integrating the principle of effective demand into long run macrodynamics; and relating aggregate outcomes to firm behaviour and the functioning of markets. Mark Setterfield, Trinity College, US This is a very timely, refreshing and challenging book, an excellent contribution in the areas of competition and growth. It blends beautifully the microeconomic analysis of the Oxford Research Group, at the center of which is the idea of strategic competition; and an extension of Harrod s work on growth. The discussions of uncertainly and excess capacity, and the interpretation of Harrod s work are outstanding. This combination leads one to think about policy issues such as taxation or public investment in a novel way, as the implications differ not only from those that derive from neoclassical models, but also from Post-Keynesi

This book provides the directions needed for confronting the continuing challenge of development. Lance Taylor, Joseph Stiglitz and Amitava Dutt focus primarily on recent theoretical developments and highlight significant advances in several areas especially in new structuralist and new neo-classical approaches. Ajit Singh, Keith Griffin and Kenneth Jameson consider the recent experience of developing countries and the prospects of development in coming decades.

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

W. Arthur Lewis was one of the foremost intellectuals, economists, and political activists of the twentieth century. In this book, the first intellectual biography of Lewis, Robert Tignor traces Lewis's life from its beginnings on the small island of St. Lucia to Lewis's arrival at Princeton University in the early 1960s. A chronicle of Lewis's unfailing efforts to promote racial justice and decolonization, it provides a history of development economics as seen through the life of one of its most important founders. If there were a record for the number of "firsts" achieved by one man during his lifetime, Lewis would be a contender. He was the first black professor in a British university and also at Princeton University and the first person of African descent to win a Nobel Prize in a field other than literature or peace. His writings, which included his book The Theory of Economic Growth, were among the first to describe the field of development economics. Quickly gaining the attention of the leadership of colonized territories, he helped develop blueprints for the changing relationship between the former colonies and their former rulers. He made significant contributions to Ghana's quest for economic growth and the West Indies' desire to create a first-class institution of higher learning serving all of the Anglophone territories in the Caribbean. This book, based on Lewis's personal papers, provides a new view of this renowned economist and his impact on economic growth in the twentieth century. It will intrigue not only students of development economics but also anyone interested in colonialism and decolonization, and justice for the poor in third-world countries.

While work on economic methodology has increased this has been coupled with a lack of consensus about the direction and content of the discipline. This book reflects this growing diversity with contributions from the leading methodologists.