The Other Canon of Economics, Volume 2

Essays in the Theory and History of Uneven Economic Development

By (author) Erik Reinert Edited by Rainer Kattel

Publication date:

13 February 2024

Publisher

Anthem Press

Dimensions:

229x153mm
6x9"

ISBN-13: 9781839990038

Other Canon Economics: Essays in the Theory and History of Uneven Economic Development brings together key essays on development economics from one of the most prolific and important development economists and historians of economic policy today. Erik S Reinert argues through essays ranging from 1994 to 2020 that neo-classical economics damages developing countries: the theory of comparative advantage leaves out a number of factors which make economic activities qualitatively different as carriers of economic growth. Based on a long intellectual tradition – started by the Italian economists Giovanni Botero (1589) and Antonio Serra (1613) and later used in virtually all presently industrialised countries – Reinert shows that the country which exports increasing returns goods – e.g. high-end manufacture and advanced services – has advantages over the country which exports diminishing returns goods – i.e. commodities. This has very important implications for today’s development strategies that, Reinert argues, should be seen as variations of industrial strategies.

16.The Economics of Reindeer Herding: Saami Entrepreneurship between Cyclical Sustainability and the Powers of State and Oligopolies; 17 European Integration, Innovations and Uneven Economic Growth: Challenges and Problems of EU 2005; 18 Institutionalism Ancient, Old and New: A Historical Perspective on Institutions and Uneven Development; 19 European Eastern Enlargement as Europe’s Attempted Economic Suicide? With Rainer Kattel; 20 The Economics of Failed, Failing and Fragile States: Productive Structure as the Missing Link With Yves Ekoué Amaïzo and Rainer Kattel; 21 Emulation vs. Comparative Advantage: Competing and Complementary Principles in the History of Economic Policy; 22 The Terrible Simplifers: Common Origins of Financial Crises and Persistent Poverty in Economic Theory and the New ‘1848 Moment’; 23 Industrial Restructuring and Innovation Policy in Central and Eastern Europe since 1990, With Rainer Kattel and Margit Suurna; 24 Capitalist Dynamics: A Technical Note; 25 Neo-Classical Economics: A Trail of Economic Destruction; 26 Modernizing Russia: Round III. Russia and the Other BRIC Countries: Forging Ahead, Catching Up or Falling Behind?, With Rainer Kattel; 27 Economics and the Public Sphere: The Rise of Esoteric Knowledge, Refeudalization, Crisis and Renewal; 28 Three Veblenian Contexts: Valdres, Norway and Europe; Filiations of Economics; and Economics for an Age of Crises; 29 Civilizing Capitalism: “Good” and “Bad” Greed from the Enlightenment to Thorstein Veblen (1857–1929); 30 Failed and Asymmetrical Integration: Eastern Europe and the Non-financial Origins of the European Crisis, With Rainer Kattel; 31 Renewables, Manufacturing and Green Growth: Energy Strategies Based on Capturing Increasing Returns, With John A. Mathews; 32 Financial Crises and Counter movements: Comparing the Times and Attitudes of Marriner Eccles (1930s) and Mario Draghi (2010s); 33 The Inequalities That Could Not Happen: What the Cold War Did to Economics; 34 Industrial Policy: A Long-term Perspective and Overview of Theoretical Arguments; Index

Over decades, Erik Reinert’s profound and significant work has highlighted the importance of increasing returns for development—and the ways in which poor countries have been prevented from reaping the benefits of such technologies. This book, bringing together some of his most essential insights, is a treasure trove for anyone interested in understanding processes of development and global inequality, and also an essential instruction manual for what can be done. —Jayati Ghosh, Professor of Economics, University of Massachusetts Amherst, USA