Description
Book SynopsisThis fascinating book considers one of the most important problems in economics: the inception of modern economic development.
Trade Review'An invaluable survey of the literature on growth. Colin White argues persuasively and expertly that any attempt to solve the profound mystery of economic growth at the large scales of world history must move beyond the limited vision of neo-classical economic theory, and incorporate the narrative methods and perspectives of history as well. This is a superb overview and critique of contemporary attempts to explain economic growth, and a perceptive re-examination of the whole issue of growth in human history.' -- David Christian, Macquarie University, Australia
'Colin White transcends a number of false dichotomies in this work. He shows that we need both theory and history in order to comprehend the transition to modern economic growth. He appreciates that this transition was neither inevitable as many theorists argue nor entirely contingent as historical treatments often suggest. He argues that advice to present-day less developed countries should combine a general understanding of the process of transition with detailed analysis of the history and conditions of the country in question. He appreciates that it makes sense to speak of an Industrial Revolution while also recognizing that this was a gradual process that in turn built upon even more gradual changes in earlier centuries in the British economy. Less obviously but importantly he realizes that we can best understand economic growth if we recognize the limitations of each scholarly approach in order to integrate the best of these.' -- Rick Szostak, University of Alberta, Canada
Table of ContentsContents: Preface Part I: Introduction: Theory and History 1. The Role of Theory and History in Explaining Modern Economic Development 2. The Conventional Wisdom of the Economist 3. The Optimist’s View: Convergence 4. Introducing Real Time with a Narrative Part II: Ultimate Causes: A Fixed or Malleable Context 5. Resources as a Stimulant or Constraint: The Role of Geography 6. Geography and Beyond: The Importance of Risk Environments 7. Human Capital: Education, Health and Aptitude 8. The Institutional Setting: Government, Market and Civil Society Part III: The Driving Forces 9. Innovation as a Prime Mover 10. Government Provides the Context: Motivation and Policies Part IV: Devising Appropriate Narratives 11. Release from the Malthusian Trap 12. Continuity and Discontinuity: The Meaning of the Industrial Revolution 13. The Rise and Fall of the Soviet Union: The Failed Experiment Part V: Conclusions 14. Causes and Complexity Bibliography Index
