The Poverty of 'development Economics'

The Poverty of 'development Economics'

by Deepak Lal, Institute of Economic Affairs (Great Britain) Staff
     
 

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In this book Deepak Lal outlines and assesses the validity of a set of beliefs about third world economic development that underlies the thinking of many politicians, bureaucrats, journalists, and academics in both developing and developed countries. He describes the various elements of this "Dirigiste Dogma" and shows how it inevitably breeds corruption.

Overview

In this book Deepak Lal outlines and assesses the validity of a set of beliefs about third world economic development that underlies the thinking of many politicians, bureaucrats, journalists, and academics in both developing and developed countries. He describes the various elements of this "Dirigiste Dogma" and shows how it inevitably breeds corruption. According to Lal, only a market-based liberal economic order can solve the age-old problem of structural mass poverty. Its significant institutional bases include transparent financial systems and sufficiently deep financial markets to allow the hedging of foreign currency risk, and either a floating or rigidly fixed exchange rate.

Product Details

ISBN-13:
9780255365192
Publisher:
Institute of Economic Affairs
Publication date:
09/01/2002
Series:
Hobart Papers , #144
Pages:
272
Product dimensions:
5.10(w) x 7.70(h) x 0.80(d)

Meet the Author

Deepak Lal is the James S. Coleman Professor of International Development Studies at the University of California, Los Angeles.

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