IDEAS home Printed from https://ideas.repec.org/a/mul/jb33yl/doi10.1428-31682y2010i1p9-54.html
   My bibliography  Save this article

Development Economics without Growth Theory

Author

Listed:
  • Kumaraswamy Vela Velupillai

Abstract

The theories of economic development pioneered by Schumpeter and Rosenstein-Rodan can only be encapsulated within a framework of complex nonlinear dynamical systems. The attractors of the dynamics of orthodox growth theory, even at the frontiers, are simple to characterise. Thus, adherence to a theory of economic development along the lines suggested by Schumpeter and Rosenstein-Rodan implies a dynamical formalism independent of orthodox growth theory52. Formal growth theory - whatever its origin - is shackled to an equilibrium benchmark that, in turn, binds its visions for development modelling within narrow, ahistorical, anti-empirical and completely unrealistic paths. The reasons for this unnaturally «eternal braid» between development models and growth theory are partly due to historical accidents and, mainly, due to a particular kind of mathematical somnambulance. Some of these points are formally substantiated and, in addition, a suggested formalisation of what I call an SR-R53 Theory of Nonlinear Economic Development is also outlined.

Suggested Citation

  • Kumaraswamy Vela Velupillai, 2010. "Development Economics without Growth Theory," Economia politica, Società editrice il Mulino, issue 1, pages 9-54.
    • Handle: RePEc:mul:jb33yl:doi:10.1428/31682:y:2010:i:1:p:9-54
    as

    Download full text from publisher

    File URL: https://www.rivisteweb.it/download/article/10.1428/31682
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.rivisteweb.it/doi/10.1428/31682
    Download Restriction: no
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Venkatachalam, Ragupathy & Kumar, Sunil Mitra, 2022. "Economic Structures and Dynamics: A Morphogenetic View," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 474-485.
    2. Kumaraswamy Vela Velupillai, 2013. "Turing's Economics. A Birth Centennial Homage," Economia politica, Società editrice il Mulino, issue 1, pages 13-32.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mul:jb33yl:doi:10.1428/31682:y:2010:i:1:p:9-54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rivisteweb.it/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.