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Views of Economic Development
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S. HerbertFrankel, The Economic Impact on Under-developed Societies: Essays on International Investment and Social Change, Cambridge, Mass., Harvard University Press, 1953, 179 pp. $3.25.
RagnarNurkse, Problems of Capital Formation in Underdeveloped Countries, New York, Oxford University Press, 1953. 163 pp. $3.00.
Published online by Cambridge University Press: 18 July 2011
Extract
Not long ago, in 1946, when an outstanding economist was invited to join the staff of the United Nations, in the new branch of Economic Development, he asked, “Economic development? What is that?” Since then, he has been working intensively on the subject, as have a great many others; and if, before 1945, very little had been written on economic development, by now the literature has assumed the proportions of a flood. Before the war, business cycles were indubitably the favorite subject of professional writing; now, certainly, it is economic development.
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- Copyright © Trustees of Princeton University 1954
References
1 Economie Stability in a Changing World, New York, 1953, p. 34.
2 These concepts of “economic center” and “economic periphery” are very helpful in the study of world economic development. To my knowledge first used by Dr. R. Prebisch in the early 1940' they are also employed by Professors Nurkse (pp. 23, 83) and Frankéi (p. 9).
3 From 1870 to 1913, British imports amounted to between 29 and 38 per cent of the national income.
4 Williams, , op. cit., p. 27.Google Scholar
5 For calling proper attention to some non-economic prerequisites of economic development, I wish to refer to a recent stud, “Some Social Obstacles to Capital Formation in Underdeveloped Areas,” by Marion J. Levy, Jr., of Princeton University, presented to the Conference on Capital Formation and Economic Growth held in New York, November 6–8, 1953, under the auspices of the National Bureau for Economic Research. This study, though studiously critical, is on the whole constructive and realistic.
6 Eighth Annual Report, 1952–1953, Washington, D.C., 1953, p. 10.