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Evaluating Marxian contributions to development economics

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  • Jonathan Perraton

Abstract

This paper evaluates the contribution of Marxian approaches to the evolution of development economics and the reasons for their current state of impasse, and suggests some areas in which this work may still be capable of providing useful contributions. Development economics was one of the few economics sub-disciplines where Marxian approaches were considered to offer a key perspective and had a wider influence on more mainstream analysis. We explore how, during the 1970s and 1980s, Marxian analysis was published alongside other perspectives in development journals, producing theoretical and empirical work analysing the conditions under which capitalism in developing economies would continue to play a developmental role. We then consider the critical engagement with dependency theory that denied the possibility of independent capitalist development, as well as with more orthodox perspectives. The conclusion of leading proponents of Marxian development by the mid-1980s, that such work had reached an impasse with no clear evidence of either theoretical or empirical progress, is then assessed. JEL Classifications: B51, O10, P10

Suggested Citation

  • Jonathan Perraton, 2007. "Evaluating Marxian contributions to development economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(1), pages 27-46.
    • Handle: RePEc:taf:jecmet:v:14:y:2007:i:1:p:27-46
    DOI: 10.1080/13501780601170040
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    References listed on IDEAS

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    1. Jonathan Perraton, 2012. "Globalization," Chapters, in: Jan Toporowski & Jo Michell (ed.), Handbook of Critical Issues in Finance, chapter 20, pages i-ii, Edward Elgar Publishing.
    2. Hirschman,Albert O., 1981. "Essays in Trespassing," Cambridge Books, Cambridge University Press, number 9780521282437, Enero-Abr.
    3. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
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    1. Stefan Kolev, 2022. "Anti-democratic revolutionaries or democratic reformers? A review essay of Janek Wasserman’s The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(4), pages 531-546, December.
    2. Amoako, George Kofi & Dartey-Baah, Kwasi & Naatu, Felicia & Acquah, Innocent Senyo Kwasi & Gabrah, Antoinette Yaa Benewaa, 2024. "Corporate social responsibility and brand performance: Evidence from Ghana," Journal of International Management, Elsevier, vol. 30(4).
    3. repec:vrs:joheec:v:1:y:2014:i:1:p:79-99:n:4 is not listed on IDEAS

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    More about this item

    Keywords

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    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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