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Trade Policies for Development

In: The Gap Between Rich and Poor Nations

Author

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  • Jagdish N. Bhagwati

    (Massachusetts Institute of Technology)

Abstract

The division of the world into rich and poor nations is a disturbing phenomenon, which is frequently traced back to the Industrial Revolution. The Industrial Revolution undoubtedly initiated a period of rapid income growth, based largely on the continual accretion of technological innovation (which has now come to be regarded as the primary component of substained economic growth) in a number of countries, spreading out from England in the late 18th century but bypassing a number of countries on the ‘periphery’. But it is an historical fact that such disparities in economic standards of living obtained, between different regions of the world, at a number of different periods of modern history stemming from what Cipolla describes as the Agricultural Revolution of 10,000 years ago when the Mesolithic Age passed away.2

Suggested Citation

  • Jagdish N. Bhagwati, 1972. "Trade Policies for Development," International Economic Association Series, in: Gustav Ranis (ed.), The Gap Between Rich and Poor Nations, chapter 10, pages 245-269, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15456-2_10
    DOI: 10.1007/978-1-349-15456-2_10
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