The Rise and Decline of Development Economics

Abstract

This chapter showcases an essay written in honor of William Arthur Lewis, whose ideas on economics were in counterpoint to Hirschman's. Lewis was a champion of more balanced growth; Hirschman favored disequilibrium. Lewis' winning the Nobel Prize for economics, among other things, had only exacerbated Hirschman's concerns that the field was growing stale. Thus, this chapter takes stock of the field of development economics and advocates an approach premised on the idea that peoples of the Third World can chart their own futures, and did, despite the long-standing convictions of development economics that only outside forces and expertise could shake them from their lot.

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