ENGLISH

Inframarginal Contributions to Development Economics

By Christis Tombazos , Xiaokai Yang

Book information

Publisher
World Scientific Publishing Company
Year
2006
ISBN
9812566589, 9789812566584, 9789812774255
Open Library ID
OL9197441M
Language
english
Format
PDF
Filesize
21 MB (22446817 bytes)
Series
Increasing Returns and Inframarginal Economics
Pages
564\564
Topic
Economy
Time added
2011-04-20 14:05:05

Description

The core of classical economic analysis represented by William Petty and Adam Smith concentrated on the field of development economics. This classical footing of the study of development is different from the neoclassical perspective in two important respects: (a) it focuses on division of labor as the driving force of development, and (b) it emphasizes the role of the market (the invisible hand ) in exploiting productivity gains that are derived from division of labor. However these aspects have received little attention in the body of literature that represents the modern field of development economics which largely represents the neoclassical application of marginalism. A notable exception is research that utilizes inframarginal analysis of individuals networking decisions in an attempt to formalize the classical mechanisms that drive division of labor. This book is a first attempt to collect relevant key contributions and is intended for active researchers in the field of development economics.

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