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A Short Chronicle of Academic Thought about Development

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  • Eckaus, Richard S.

Abstract

Concerted analytical attention to the economic and social conditions of the poor countries of the world began after World War II. It focused first on major issues such as resource requirements, unemployment and overall policy. In the 1970's and 1980's, microeconomic analysis turned neoclassical and frequently assumed that good markets were pervasive. Balance of payments crises associated with international finance and energy prices preoccupied macroeconomic analysis. Closer attention to specific microeconomic policy issues has characterized the most recent thinking about development, with greater awareness of market imperfections and the problems of acquiring and using information in policy formation.

Suggested Citation

  • Eckaus, Richard S., 2008. "A Short Chronicle of Academic Thought about Development," The Journal of Economic Asymmetries, Elsevier, vol. 5(1), pages 1-12.
    • Handle: RePEc:eee:joecas:v:5:y:2008:i:1:p:1-12
    DOI: 10.1016/j.jeca.2008.01.001
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    References listed on IDEAS

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    4. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
    5. Anonymous, 1968. "Organization for Economic Cooperation and Development," International Organization, Cambridge University Press, vol. 22(4), pages 1007-1013, October.
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    More about this item

    Keywords

    B2; O1; Economic development; evolution of development theory;
    All these keywords.

    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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