The Economics of Under-Developed Countries

The Economics of Under-Developed Countries

The Economics of Under-Developed Countries

The Economics of Under-Developed Countries

Excerpt

Soon after the war of 1914-18 there seemed to be a place for a series of short introductory handbooks, 'intended to convey to the ordinary reader and to the uninitiated student some conception of the general principles of thought which economists now apply to economic problems'.

This Series was planned and edited by the late Lord Keynes under the title 'Cambridge Economic Handbooks' and he wrote for it a General Editorial Introduction of which the words quoted above formed part. In 1936 Keynes handed over the editorship of the Series to Mr. D. H. Robertson, who held it till 1946, when he was succeeded by Mr. C. W. Guillebaud.

It was symptomatic of the changes which had been taking place in the inter-war period in the development of economics, changes associated in a considerable measure with the work and influence of Keynes himself, that within a few years the text of part of the Editorial Introduction should have needed revision. In its original version the last paragraph of the Introduction ran as follows:

'Even on matters of principle there is not yet a complete unanimity of opinion amongst professors. Generally speaking, the writers of these volumes believe themselves to be orthodox members of the Cambridge School of Economics. At any rate, most of their ideas about the subject, and even their prejudices, are traceable to the contact they have enjoyed with the writings and lectures of the two economists who have chiefly influenced Cambridge thought for the past fifty years, Dr. Marshall and Professor Pigou.'

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