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Foundations of Contemporary Economics: Alexander Gerschenkron

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  • Teodor Sedlarski
  • Henrik Egbert

Abstract

Alexander Gerschenkron was one of the leading economic historians and development economists of the 20th century. His book of essays, Economic Backwardness in Historical Perspective, is one of the most important books ever published in economic history. This text summarizes two of Gerschenkron’s ideas, which have influenced the development theory beyond its originally European contexts: Firstly, the calculation of Sowjet growth rates which were a puzzle in his time. The detected calculation mistakes of the Sowjet economy are nowadays known as the Gerschenkron effect. Secondly, we illustrate some of the aspects of his central theory of economic backwardness for industrialization and catch-up development processes.

Suggested Citation

  • Teodor Sedlarski & Henrik Egbert, 2016. "Foundations of Contemporary Economics: Alexander Gerschenkron," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 133-141.
    • Handle: RePEc:bas:econth:y:2016:i:1:p:133-141
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    References listed on IDEAS

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    1. Acemoglu, Daron & Robinson, James A., 2006. "Economic Backwardness in Political Perspective," American Political Science Review, Cambridge University Press, vol. 100(1), pages 115-131, February.
    2. Veblen, Thorstein, 1915. "Imperial Germany and The Industrial Revolution," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1915.
    3. Rosovsky, Henry, 1979. "Alexander Gerschenkron: A Personal and Fond Recollection," The Journal of Economic History, Cambridge University Press, vol. 39(04), pages 1009-1013, December.
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    Cited by:

    1. Henrik Egbert & Teodor Sedlarski, 2021. "Foundations of contemporary economics: Mancur Olson and collective action," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 126-134.

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