A Modern Guide to Rethinking Economics
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A Modern Guide to Rethinking Economics

Edited by Louis-Philippe Rochon and Sergio Rossi

Since the beginning of the 21st century, there has been an unprecedented move towards ‘rethinking economics’. This book contributes to this worldwide discussion by providing readers at all levels with thoughtful contributions on a range of economic topics. The book includes chapters on rethinking fiscal and monetary policies, international trade, the role of the state, money, growth, the environment, development policies, energy, healthcare and more. Written by top experts in their respective fields, this book will be useful to students and faculty who want to not only rethink economics, but also to offer an alternative and coherent economic analysis to the orthodoxy.
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Chapter 13: Rethinking development

Esteban Pérez Caldentey

Abstract

This chapter argues that the unsatisfactory performance and dim future prospects of developing economies demand rethinking the theoretical foundations of development economics by fostering a dialogue and collaboration between structuralist and post-Keynesian economics. This collaboration can be centred on five themes: (i) a methodological approach based on historical trends and measurement; (ii) the characterization of the system of economic relations around the concepts of centre and periphery; (iii) the relation between income distribution, accumulation and economic growth; (iv) the central role of demand and (v) the role of the State.

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