The Neoliberal 'Rebirth' of Development Economics

Abstract

Development economics, as a branch of economics that attempts to show how the world's poor economies can develop, had its origins in the 1940s and 1950s. One of its earliest ideas was that the economies of the less developed countries were mired in a cycle of poverty and needed a "big push" to develop. This push was seen as a large boost in investment, helped by the state's infrastructural and social spending, as well as by private foreign capital spending and aid from the governments of the developed nations.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.

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