MACMILLAN Whatever Happened to the Third World?: A History of the Economics of Development

Product Description How can the successful development of some former Third World countries be explained, while other developing countries have remained stagnant or worse, have deteriorated into failed states? This book offers a history of the economics of development. De Haan examines how the right mix of policies and evolving insights in development economics have impacted certain countries with the progression from low-income to middle-income, and even high-income status. In particular middle-income countries encounter hindrances to transit into high-income countries. The challenges of low-income countries and those of fragile and failed states is elaborated as well. Due attention is given to successive generations of development economists, economic growth models and international trade theories to provide academic background to the evolution or stagnation of developing countries. The author’s own experience in development aid is woven into the text, making this book important and entertaining reading for researchers, students of development economics, international trade and international aid. Review “Whatever happened to the Third World is a concise yet masterful analysis of the sources of economic growth and its implications for poverty reduction in developing countries. Peter de Haan does an excellent job in reviewing past growth theories against recent performance of the shrinking ‘Third World'. The volume is a must read both for university students and development practitioners. ” (Constantine Michalopoulos, Advisor to international organisations including the IMF, the World Bank, UCTAD and the EU Commission) “Peter de Haan's new book is a comprehensive and entertaining tool to understand how people and institutions devised development paths through time. His economics academic insights combined with international field experience provide a brilliant grasp of a challenging matter.” (Eduardo Rodriguez-Veltze; Former President of Bolivia. La Paz, Bolivia)  “Economic development, international trade and globalisation are such vast fields that it takes an excellent guide as Peter de Haan to understand their meaning and relevance for the Third World. Adding his personal experience, he lively describes how the developing world fared, how successive generations in development economics looked at it, and how they explained what happened. Experts, students and practitioners alike will enjoy this sparklingly written book.” (Arie Kuyvenhoven, Professor Emeritus of Development Economics, Wageningen University, and Visiting Professor, Nanjing Agricultural University, China) “...Peter de Haan, drawing from his rich life-long experience working on the field as a diplomat and development expert, has written a fascinating book on the development and evolution of the economics of development. This very readable intellectual journey should be a required reading for policy makers, politicians, and students of economic development and the century-long fight on poverty, for an illuminating insight into this fascinating field of human endeavor. Delightful reading!” (Ronald MacLean-Abaroa, Former Minister of Finance, Sustained Development, and Foreign Affairs, and four-term elected Mayor of La Paz, Bolivia)  "De Haan bravely brings the whole development history of humankind in front of our eyes to illustrate that development is more than a field; it is a history that needs more than one singular answer. To sum up with his own words: “The overall conclusion must be that economists, while explaining a lot about economic growth, should not pretend to have all the answers”. De Haan here gives a clear message to the economists who focused only on the growth and nothing but the growth in order to broaden their horizon as development covers more than economic variables. From my point of view, this book provides a comprehensive interdisciplinary perspective that is going to widen people’s knowledge about economic developme