Tag Archives: development economics

According to its main authors, MMT is not “ultimately” about money. Money is just a prerequisite for addressing the more important issue of mobilizing domestic resources for the full employment of the labour force and other public endeavours.... Good introductory article.Brave New WorldNdongo Samba Sylla – What does MMT have to Offer Developing Nations? Ndongo Samba Sylla | Research and Programme Manager for the Rosa Luxemburg Foundation

Ha-Joon Chang.The Case for Concerted ActionAsymmetric ProtectionismV. Ramanan

Must-read. Note: Xi Jinping was trained as a chemical engineer.Andrew Batson's BlogWhat Xi Jinping thinks about development economics Andrew Batson

Important. Andrew Batson summarizes Charles Kindleberger's insight into development in terms of ability to transform the economy — what promotes it and what hinders it.Neoclassical economics assumes flexibility among the factors of production and also flexibility within them, resulting in immediate response to economic "laws," e.g., based on natural market forces that automatically generate spontaneous order (general equilibrium).However, economic forces are not independent of social and...

A very interesting post.The author fails to discuss the the situation with China, however, perhaps owing to limited scope.  The Chinese situation is interesting in that prior to Deng's reforms, China was a country dominated by poor peasants. The way that the contemporary Chinese government is dealing this is is building cities and requiring people to move to them. There is apparently not much resistance owing to the extreme poverty of the countryside. This was inevitable in the move to...

I don’t think anyone was surprised by this year’s “Nobel” prize in economics, which went to three American-based specialists in the design of on-the-ground experiments in low income countries, Abhijit Banerjee, Esther Duflo and Michael Kremer. I think the award has merit, but it is important to keep in mind the severe limitations of the work being honored.... On balance, I think it’s fine that this prize honors experimentalism, but we shouldn’t lose sight of the larger picture. Using...

Review of Extreme Economies: from Akita in Japan to Santiago in Chile, from Glasgow to Kinshasa by Richard Davies. Davies picks this up in the conclusion: “The biggest gap in economics is the way it completely ignores social capital.” This is why our Bennett Institute Wealth Economy team is exploring the measurement of social capital. Economics doesn’t entirely ignore it – it gets lables such as ‘institutions’ or ‘goodwill’ – but is treated as a black box at best. So I agree with the...

India is a country of contrasts. It is home to a $160 billion tech services industry, while also buffeted by environmental and social challenges - and this makes it fertile ground for globally scalable, tech-driven solutions.... World Economic ForumIf innovators can solve India's problems, they can save the world. Here's why. Nikhil Malhotra

Apt Kaldor quote, giving Singh advice on development economics.The Case for Concerted ActionAshwani Saith: Ajit Singh Of Cambridge And Chandigarh – An Intellectual Biography Of The Radical Sikh EconomistV. Ramanan

AbstractThis paper focuses on the different development strategies of China and India, particularly regarding the role of manufacturing and services, for long-run productivity growth, external competitiveness and financial fragility. The findings appear to support the argument that productivity improvements in manufacturing drive productivity improvements in other sectors. They also substantiate previous findings that the Indian services-led growth trajectory has had limited success in...