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Introduction

In: A General Theory of Economic Development

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Abstract

This introductory chapter lays out several myths about economic development, namely, that: (1) economic development is achievable by all nations; (2) economic development requires balanced growth; (3) inequality is a major obstacle to economic development; (4) economic policy should avoid ideological biases; (5) democracy is a precondition of development; (6) prosperous neighbours are bad for development; (7) markets are the elixir of economic development; (8) markets versus governments; (9) corporations are bad for economic development; (10) industrial policy is unfair practice; and (11) economic development is viewed as the accumulation of a nation’s resources. These myths are revisited in the final chapter of the book.

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  • ., 2017. "Introduction," Chapters, in: A General Theory of Economic Development, chapter 1, pages 1-15, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17144_1
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