Alternative Strategies for Economic Development

The question of alternative strategies for economic development is the subject of great controversy and intense debate amongst practitioners and academics concerned with economic and social progress in the Third World. The core of this book is an analysis of the six most widely adopted strategies of development namely monetarism, the open economy, industrialisation, the green revolution or agriculture-led development, redistributive strategies of development and socialist strategies. Alternative strategies for economic development create great controversy and intense debate among practitioners and academics concerned with economic and social progress in the third world. The core of the book analyzes the six most widely adopted strategies of development, namely, monetarism, the open economy, industrialization, the green revolution or agriculture-led develop-ment, redistributive strategies of development and socialist strategies. The strengths and weaknesses of each strategy are assessed and then compared. Evaluation of the strategies is based on their performance as regards resource utilization and the level of income; savings, investment and growth; human capital formation; poverty and inequality; the role of the state; and participation, democracy and freedom. The book contains a blend of economic theory, statistical evidence and numerous country case studies. The focus is on government policy and the implications of alternative policy approaches for material betterment and social equity in the Third World. This new edition opens with a new introduction discussing the human development strategy, the economic transition paths followed in the ex-socialist countries and the impact of globalization on development "Alternative strategies for economic development create great controversy and intense debate among practitioners and academics concerned with economic and social progress in the third world. The core of the book analyzes the six most widely adopted strategies of development, namely, monetarism, the open economy, industrialization, the green revolution or agriculture-led development, redistributive strategies of development and socialist strategies." "The strengths and weaknesses of each strategy are assessed and then compared. Evaluation of the strategies is based on their performance as regards resource utilization and the level of income; savings, investment and growth; human capital formation; poverty and inequality; the role of the state; and participation, democracy and freedom." "The book contains a blend of economic theory, statistical evidence and numerous country case studies. The focus is on government policy and the implications of alternative policy approaches for material betterment and social equity in the Third World."--BOOK JACKET Alternative strategies for economic development create great controversy and intense debate among practitioners and academics concerned with economic and social progress in the third world. The core of this book analyzes the six most widely adopted strategies of development, namely monetarism, the open economy, industrialization, the green revolution or agricultured development, redistributive strategies of development and socialist strategies. The strengths and weaknesses of each strategy are assessed and then compared. This second edition contains a new introduction in which the human development strategy, the transition strategies followed in the ex-socialist countries, and globalization and its effects on development are all discussed. Front Matter....Pages i-xxviii Development in Historical Context....Pages 1-23 Many Paths to Development....Pages 24-35 Monetarism....Pages 37-67 The Open Economy....Pages 68-99 Industrialisation....Pages 100-131 The Green Revolution Strategy....Pages 132-163 Redistributive Strategies....Pages 164-193 Socialist Strategies of Development....Pages 194-225 The Strategies Compared....Pages 226-242 Back Matter....Pages 243-269