Development economics : a new paradigm

Most developing countries faced a host of problems in the eighties which affected their economies in particular. As a response, these nations were 'encouraged' to de-regu late their economies, promote privatisation and generally allow market forces to prevail. These developments were accompanied by fresh thinking in the realm of economic theory represented by the neo-classical school. One of the victims of this thinking was development economics which has been pronounced dead by its detractors as well as by some of its early adherents.

Professor Naqvi argues forcefully in this im portant book that not only is development economics far from dead but that it has an important role to play in helping to under stand the vital problems that developing economies typically face, and in offering sen sible remedies to resolve them.

The author lays bare the weaknesses of the free market theory but argues that develop ment economics must itself evolve and take on new dimensions which are founded in ra tional analysis. It must not fight shy of a nor mative content and should take pride in its commitment to growth with distributive jus tice and to the redress of social problems.

Comprehensive in scope and lively in style. this book deals with various schools of thought and provides insightful comments on economic thinking relating to develop ment issues. It will be essential reading for economists regardless of their theoretical persuasion and whether in academia, gov crnment, industry or business.