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Political Economics and Possibilism: Towards an Open Notion of Development

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  • Andrés Mauricio Guiot Isaac

Abstract

Hirschman was both a pioneer and a dissenter of development economics. He shares with the high theory the virtues and misfortunes of committing to modernize the underdeveloped world, but his exposure to the politics of development in Latin America gave new life to his early insights. Revealing the political dimensions of his concepts on economic development, Hirschman provides some mini-building blocks for a political economics consistent with an open notion of development. This inquiry, however, should not be seen exclusively through a methodological lens; it is grounded on his possibilism, a claim about modernity and the possibility of change. This article reconsiders the legacy of Hirschman’s thought for current debates on development and calls for recuperating his commitment to open societies.

Suggested Citation

  • Andrés Mauricio Guiot Isaac, 2017. "Political Economics and Possibilism: Towards an Open Notion of Development," Documentos CEDE 15666, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:015666
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    References listed on IDEAS

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    More about this item

    Keywords

    Hirschman; development; modernity; political economics; possibilism;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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