Development Economics and Structuralist Macroeconomics
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Development Economics and Structuralist Macroeconomics

Essays in Honor of Lance Taylor

Edited by Amitava Krishna Dutt

Lance Taylor is widely considered to be one of the pre-eminent development economists in the world and is known for his work on development planning, macroeconomics of development, stabilization policy, and the global economy. He has also been the major force behind structuralist economics, which is seen by many to be a major alternative to orthodox development economics and policy prescriptions. The essays in this volume, written by well-known scholars in their own right, make contributions to each of these areas while honoring the contributions made by Lance Taylor.
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Chapter 1: Development economics and political economy

Amitava Krishna Dutt and Jaime Ros

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1. Development economics and political economy Amitava Krishna Dutt and Jaime Ros 1 INTRODUCTION This volume contains chapters written by colleagues, former students, collaborators and, above all, friends of Lance Taylor, presented to him – albeit somewhat belatedly – for his sixtieth birthday. The contributors have dedicated their chapters to him as tributes to his many major and influential contributions to development economics and political economy, and as a token of their warm friendship. The chapters follow the tradition pioneered and charted by Lance Taylor, which is not surprising because many of their authors, especially his former students and collaborators, have been directly influenced by his work. The purpose of this introductory chapter is to provide brief overviews of the development economics and political economy traditions to which the papers belong, and to situate the contributions in those traditions. Sections 2 and 3 discuss the development economics and political economy traditions, respectively, section 4 provides a brief overview of Lance Taylor’s contributions, and section 5 introduces the chapters of this volume. 2 DEVELOPMENT ECONOMICS The history of development economics is in a sense as old as that of economics itself, with contributions from the mercantilists, physiocrats and Turgot, the classical economists – Smith, Ricardo and Malthus –, Marx, the writers on colonial policy, and nationalist writers in the colonies and elsewhere (see Arndt, 1987, ch. 2). However, the systematic and specialized study of the entire range of problems of less developed countries (henceforth, LDCs) did not begin till just after World War...

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