Political Economy, Ideology, and the Impact of Economics on the Third World

By Derrick K. Gondwe | Go to book overview

NOTES
1.
Ray Canterbery, The Making of Economics, 3rd ed. ( Belmont, Calif.: Wadsworth, 1987), 104-5.
2.
See Robert Dorfman, "Economic Development from the Beginning to Rostow", Journal of Economic Literature 29 ( June, 1991): 573.
3.
For other classifications, see Nigel Harris, The End of the Third World: Newly Industrializing Countries and the Decline of an Ideology ( London: Penguin Books, Ltd., 1986) 18-29 and Michael P. Todaro, Economic Development in the Third World, 4th ed. ( London: Longman, 1989), 62-82.
4.
See Michael Todaro, Economic Development in the Third World, 82- 83.
5.
See Benjamin Higgins, Economic Development: Principles, Problems and Policies ( New York: W. W. Norton, 1959), 120.
6.
The question of whether we have monoeconomics, for example, an economics that applies with as much validity to industrialized as to nonindustrialized countries, has been debated extensively. See for example, Paul Streeten , "Development Dichotomies", in Pioneers in Development, ed. Gerald M. Meier and Dudley Seers ( New York: Oxford University Press, for the World Bank, 1985). Neoclassical economists as well as Marxists tend to believe in monoeconomics. The argument here is not concerned with that issue directly. Whether it is mono- or polyeconomics, the central issue is whether it deals with the central issues of the human condition wherever humans live.
7.
The universal economic man, for example, is still a basic starting point for most development economists of the neoclassical persuasion.
8.
Conservative neoclassical economists are the most likely ideological group to identify economic growth with development. This is, perhaps, because they are opposed to redistribution and regulations for such things as safety, environmental protection, and so forth, which are the by-products of economic growth. Liberal neoclassical economists will differentiate between growth and development by recognizing the sociopolitical implications of growth on development. Radicals are concerned with sociopolitical implications of growth even more than liberals.
9.
The definition of development here includes the fact that productive work contributes to a wholesome person and nation. Hence, a nation of slothful, wealthy people would not be classified as developed, partly because of this, but also partly because such a state cannot be sustained indefinitely.
10.
Note what happened to Guatemala in the mid-1950s and to Chile in the 1970s, and the imposition by the World Bank and IMF of structural adjustment requirements on sub-Saharan Africa and other LDCs in the 1980s. All these are examples of situations in which the power to make decisions on domestic priorities were lost to foreign entities.

-115-

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Political Economy, Ideology, and the Impact of Economics on the Third World
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Acknowledgments vii
  • 1 - Introduction 1
  • 2 - The Transition from Political Economy to Economics 11
  • 3 - Ideology in Political Economy 31
  • 5 - Economics and the Political Economy of Less Developed Countries 93
  • Notes 115
  • 6 - Ideology and the Economics of Less Developed Countries 121
  • 7 - Toward a People-Centered Political Economy 151
  • Bibliography 177
  • Index 189
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