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The Other Canon: The History of Renaissance Economics

In: Globalization, Economic Development and Inequality

Author

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  • Erik S. Reinert
  • Arno M. Daastøl

Abstract

The expert contributors gathered here approach underdevelopment and inequality from different evolutionary perspectives. It is argued that the Schumpeterian processes of ‘creative destruction' may take the form of wealth creation in one part of the globe and wealth destruction in another. Case studies explore and analyse the successful 19th century policies that allowed Germany and the United States to catch up with the UK and these are contrasted with two other case studies exploring the deindustrialization and falling real wages in Peru and Mongolia during the 1990s. The case studies and thematic papers together explore, identify and explain the mechanisms which cause economic inequality. Some papers point to why the present form of globalization increases poverty in many Third World nations.

Suggested Citation

  • Erik S. Reinert & Arno M. Daastøl, 2004. "The Other Canon: The History of Renaissance Economics," Chapters, in: Erik S. Reinert (ed.), Globalization, Economic Development and Inequality, chapter 1, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:1570_1
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    File URL: https://www.elgaronline.com/view/9781858988917.00007.xml
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    Cited by:

    1. Sharif, Naubahar, 2006. "Emergence and development of the National Innovation Systems concept," Research Policy, Elsevier, vol. 35(5), pages 745-766, June.
    2. Erik S. Reinert, 2006. "Institutionalism Ancient, Old and New: A Historical Perspective on Institutions and Uneven Development," WIDER Working Paper Series RP2006-77, World Institute for Development Economic Research (UNU-WIDER).
    3. Reinert, Erik S., 2004. "How rich nations got rich. Essays in the history of economic policy," MPRA Paper 48147, University Library of Munich, Germany.
    4. -, 2014. "Latin American Economic Outlook 2015: Education, skills and innovation for development," Coediciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37446 edited by Ocde.
    5. Bengt-Åke Lundvall, 2007. "Innovation System Research – Where it came from and where it might go," Globelics Working Paper Series 2007-01, Globelics - Global Network for Economics of Learning, Innovation, and Competence Building Systems, Aalborg University, Department of Business and Management.
    6. -, 2015. "Education, structural change and inclusive growth in Latin America," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37845 edited by Eclac.

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    Keywords

    Economics and Finance;

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