Underdevelopment A Strategy for Reform

The process of globalization, evidenced by environmental change, migration, industrial relation and the extraordinary acceleration of industrial economic relations, has not led to increased convergence in the global economy. Rather, in some cases it has been accompanied by greater divergence between the fortunes of the world's richest and poorest nations. Professor Sylos Labini argues that mainstream economics provide limited help in considering these phenomena and instead adopts the perspectives of Adam Smith, David Riccardo and Malthus, who put economic growth at the centre of their analyses. In this short book he offers a fresh approach to the theory of economic growth and reminds us of the great variety of economic trajectories in developing countries. He further proposes a strategy of institutional reform to respond to the problem of underdevelopment. For Africa he recommends a strategy of organizational reforms, including a programme to eradicate illiteracy and to promote rural and industrial districts.

List of figures and tables; Introduction; 1. Economic development in a secular perspective; 2. Culture, institutions and resources; 3. The inadequacy of mainstream economics to explain developmental processes: returns and prices; 4. The inadequacy of mainstream economics to explain development processes: distribution and growth; 5. Economic relations between developed and underdeveloped countries; 6. Demographic pressures and the countries of increasing poverty; 7. Dependent workers, employment and underemployment; 8. Organizational and institutional innovations; 9. The problem of corruption; Conclusion: a strategy of reforms; Bibliography; Index.

Developing countries represent the greatest challenge of our time. Sylos Labini suggests a strategy of institutional reform. For Africa, he recommends organizational reforms consisting of two European centers to tackle illiteracy, and one to promote rural and industrial districts. Finally, he proposes an international research program to explore problems of underdevelopment.