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‘Economics’ of prosperity: Why the dominant perspectives may be unhelpful to make sense of underdevelopment

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  • Gupta, Avinash

Abstract

The article is essentially a book-review of Professor Vijay Joshi's recent work, '"India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a 'typical'book review. For example, the length of this article goes well-beyond the standard convention. The ‘deviation’ from rules, however, has specific objectives. I have critically analyzed Dr. Joshi’s work and in so doing include relevant evidences, debates and questions not just from economics but also from other disciplines such as history and political science.

Suggested Citation

  • Gupta, Avinash, 2018. "‘Economics’ of prosperity: Why the dominant perspectives may be unhelpful to make sense of underdevelopment," MPRA Paper 87534, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:87534
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    File URL: https://mpra.ub.uni-muenchen.de/99105/9/MPRA_paper_99105.pdf
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    References listed on IDEAS

    as
    1. Kochhar, Kalpana & Kumar, Utsav & Rajan, Raghuram & Subramanian, Arvind & Tokatlidis, Ioannis, 2006. "India's pattern of development: What happened, what follows?," Journal of Monetary Economics, Elsevier, vol. 53(5), pages 981-1019, July.
    2. Pranab Bardhan, 1997. "Corruption and Development: A Review of Issues," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1320-1346, September.
    3. Dilip Mookherjee & Pranab K. Bardhan, 2000. "Capture and Governance at Local and National Levels," American Economic Review, American Economic Association, vol. 90(2), pages 135-139, May.
    4. John Weiss, 2005. "Export Growth and Industrial Policy: Lessons from the East Asian Miracle Experience," IDB Publications (Working Papers) 47618, Inter-American Development Bank.
    5. Guzman, Martin & Ocampo, Jose Antonio & Stiglitz, Joseph E., 2018. "Real exchange rate policies for economic development," World Development, Elsevier, vol. 110(C), pages 51-62.
    6. Alice H. Amsden & Wan-wen Chu, 2003. "Beyond Late Development: Taiwan's Upgrading Policies," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011980, April.
    7. Kohli, Atul, 1997. "Japanese colonialism and Korean development: A reply," World Development, Elsevier, vol. 25(6), pages 883-888, June.
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    More about this item

    Keywords

    Underdevelopment; critical analysis; political and social dynamics in policy;
    All these keywords.

    JEL classification:

    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • N6 - Economic History - - Manufacturing and Construction
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights

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