Unequal Development and Capitalism
Catching Up and Falling Behind in the Global Economy
- 186 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
Unequal Development and Capitalism
Catching Up and Falling Behind in the Global Economy
About this book
Unequal development has been a defining characteristic of capitalism. Throughout history, countries and regions have exhibited differences in labor productivity growth – a key determinant in poverty reduction and development – and although some nations may catch up with the productivity levels or well-being of developed economies at times, others fall behind. This book explores these processes of catching up and falling behind of developing countries from Asia, Latin America, Central and Eastern Europe, and Africa in relation to the US economy from 1970 to 2019.
The research presented in this book integrates a historical interpretation of post-World War II capitalism with economic theory and empirical analysis. By exploring the historical experiences of these countries, the book provides an overview of their economic transformations. The interplay between technical change, profit rate and capital accumulation, on one hand, and institutional change, on the other, are combined to explain the dynamics of catching up or falling behind in labor and capital productivities. Furthermore, the book provides, from the perspective of developing countries, fundamental lessons for the implementation of successful strategies for catching up and development.
This book is a major resource for readers interested in economic growth and development, heterodox macroeconomics, development economics, and related areas.
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Information
Table of contents
- Cover Page
- Endorsements Page
- Half-Title Page
- Series Page
- Title Page
- Copyright Page
- Dedication Page
- Contents
- List of figures and tables
- Acknowledgments
- Introduction: Capitalist transformations and unequal development
- 1 Measuring technical change, catching up, and falling behind globally
- 2 A growth model in the classical-Marxian tradition
- 3 The US economy from the demise of the Golden Age to the crisis of neoliberalism
- 4 Running fast: Catching up in Asia
- 5 From hope to frustration: Falling behind in Latin America
- 6 Restarting capitalism in Central and Eastern Europe
- 7 The forgotten continent: Falling behind in Africa
- Conclusion: Worldwide lessons for catching-up
- Index