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Underdevelopment

In: Economics: An Anti-Text

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  • Rhys Jenkins

Abstract

The analysis of underdeveloped economies is largely neglected in introductory economic textbooks. It is usual to devote a chapter, towards the end of the book, to the problems of those countries which account for the bulk of the world’s population. This is usually presented as an exercise in applied economics, showing the usefulness of theoretical tools already learnt in understanding a practical problem of the world today. As Lipsey puts it: ‘We must now see what light economics can shed on the problem of raising living standards in poor countries.’2 There is implicit in such a statement an assumption which runs through the whole of neoclassical economics, that its principles are of universal validity and can be applied to any socio-economic system, a view that we shall return to in Section 4.

Suggested Citation

  • Rhys Jenkins, 1977. "Underdevelopment," Palgrave Macmillan Books, in: Francis Green & Petter Nore (ed.), Economics: An Anti-Text, chapter 0, pages 132-147, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15751-8_9
    DOI: 10.1007/978-1-349-15751-8_9
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