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Summary
Summary
Evolutionary economics gained acceptance for the study of industrialized countries during the 1990s but has, as yet, contributed little to the study of world income inequality.
The expert contributors gathered here approach underdevelopment and inequality from different evolutionary perspectives. It is argued that the Schumpeterian processes of 'creative destruction' may take the form of wealth creation in one part of the globe and wealth destruction in another. Case studies explore and analyse the successful 19th century policies that allowed Germany and the United States to catch up with the UK and these are contrasted with two other case studies exploring the deindustrialization and falling real wages in Peru and Mongolia during the 1990s. The case studies and thematic papers together explore, identify and explain the mechanisms which cause economic inequality. Some papers point to why the present form of globalization increases poverty in many Third World nations.
Members of the anti-globalization movement will find the explanations given in this book insightful, as will employees of international organizations due to the important policy messages. The theoretical interest within the book will appeal to development economists and evolutionary economists, and policymakers and politicians will find the explanations of the present failure of many small nations in the periphery invaluable.
Author Notes
David B. Audretsch holds the Ameritech Chair of Economic Development and is Director of the Institute for Development Strategies at Indiana University. He is also a Research Fellow of the Centre for Economic Policy Research, London
Jurgen G. Backhaus holds the Krupp Foundation Chair in Public Finance and Fiscal Sociology, Faculty of Economics, Law and the Social Sciences, University of Erfurt, Germany
Adne Cappelen is Research Director of Statistics Norway, Oslo
Arno M. Daastol is a PhD candidate at the University of Erfurt, Germany
Wolfgang Drechsler holds the Chair of Public Administration and Government, University of Tartu, Estonia
Dieter Ernst is a Senior Fellow at the East-West Center, Honolulu, Hawaii, USA
Chris Freeman is Emeritus Professor and Former Director of SPRU, Science and Technology Policy Research, University of Sussex
Michael Hudson heads the Institute for the Study of Long-Term Economic Trends (ISLET) in New York. He is also a Research Fellow at the Levy Economics Institute of Bard College, New York
Bengt-Ake Lundvall is Professor of Economics at the University of Aalborg, Denmark
Carlota Perez is Honorary Research Fellow at SPRU, Science and Technology Policy Research, University of Sussex; Adjunct Senior Research Fellow, INTECH, Maastricht, The Netherlands; and Visiting Scholar 2002 and 2004 at Cambridge University. She is also an international consultant and lecturer based in Caracas, Venezuela
Erik S. Reinert was formerly Senior Research Associate at SUM (Centre for Development and the Environment) at the University of Oslo, Norway, and Head of Research, Norsk Investorforum, Oslo. He is now President of The Other Canon Foundation, Hvasser, Norway, and Professor of Technology Governance at the Tallinn Technical University, Estonia
Santiago Roca is Professor of Economics and Director of Research at ESAN, Escuela Superior de Administracion de Negocios, Lima, Peru. He has also been Visiting Professor of Economics and Finance, College of Business, Department of Economics, Arizona State University, Tempe, AZ
Luis Simabuko is Research Assistant at ESAN, Escuela Superior de Administracion de Negocios, Lima, Peru
Table of Contents
| List of contributors | p. vii |
| Introduction | p. 1 |
| Part I Foundations of an Alternative Theoretical Perspective | |
| 1 The Other Canon: the history of Renaissance economics | p. 21 |
| 2 Natural versus social sciences: on understanding in economics | p. 71 |
| Part II The Strategy of Success: Nineteenth-Century United States and Germany | |
| 3 The views of the German historical school on the issue of international income distribution | p. 91 |
| 4 Technical progress and obsolescence of capital and skills: theoretical foundations of nineteenth-century US industrial and trade policy | p. 100 |
| Part III The Strategy of Failure: Late Twentieth-Century Deindustrialization and the Economics of Retrogression | |
| 5 Natural resources, industrialization and fluctuating standards of living in Peru, 1950-97: a case study of activity-specific economic growth | p. 115 |
| 6 Globalization in the periphery as a Morgenthau Plan: the underdevelopment of Mongolia in the 1990s | p. 157 |
| Part IV Technical Change and the Dynamics of Income Inequality | |
| 7 Technological revolutions, paradigm shifts and socio-institutional change | p. 217 |
| 8 Income inequality in changing techno-economic paradigms | p. 243 |
| 9 Information technology in the learning economy: challenges for developing countries | p. 258 |
| 10 Diversity: implications for income distribution | p. 288 |
| 11 Convergence, divergence and the Kuznets curve | p. 309 |
| Index | p. 327 |
