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The Other Canon of Economics, Volume 1
Essays in the Theory and History of Uneven Economic Development
By Erik Reinert
Edited by Rainer Kattel
Other Canon Economics: Essays in the Theory and History of Uneven Economic Development brings together key essays on development economics from one of the most prolific and important development economists and historians of economic policy today.
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About This Book
Other Canon Economics: Essays in the Theory and History of Uneven Economic Development brings together key essays on development economics from one of the most prolific and important development economists and historians of economic policy today. Erik S Reinert argues through essays ranging from 1994 to 2020 that neo-classical economics damages developing countries: the theory of comparative advantage leaves out a number of factors which make economic activities qualitatively different as carriers of economic growth. Based on a long intellectual tradition – started by the Italian economists Giovanni Botero (1589) and Antonio Serra (1613) and later used in virtually all presently industrialised countries – Reinert shows that the country which exports increasing returns goods – e.g. high-end manufacture – has advantages over the country which exports diminishing returns goods – e.g. commodities. This has important implications for today’s development strategies that, Reinert argues, should be seen as industrial strategies.
Reviews
Over decades, Erik Reinert’s profound and significant work has highlighted the importance of increasing returns for development—and the ways in which poor countries have been prevented from reaping the benefits of such technologies. This book, bringing together some of his most essential insights, is a treasure trove for anyone interested in understanding processes of development and global inequality, and also an essential instruction manual for what can be done. —Jayati Ghosh, Professor of Economics, University of Massachusetts Amherst, USA
Reading this book brings to mind the image of the author as eagle, one moment soaring high to see the panorama, another moment swooping low to pick up a tasty morsel. Reinert is one of the pioneers of a distinctly different narrative about economic development than has long occupied the commanding heights, with much more focus on politics and institutions and path-dependence. Anyone who enjoys the company of an articulate, off-beat, well informed intelligence will want to read his collection – and perhaps pick a fight with it.—Robert H. Wade, Professor of Global Political Economy, London School of Economics, London, American Political Science Association Best Book or Article Award, 1989 – 91, Leontief Prize in Economics, 2008
Development policy, like History, is written by those who won. But the recommendations of the successful countries paradoxically become "do as I say, not as I did". This book looks at the process of development from the perspective of the third-world countries to identify why their interests lie in alternative development strategies. —Jan Kregel, Director of Research, Levy Economics Institute of Bard College, NY US
Sensitive to history, especially the development of ideas, and fluent in several key European languages, Erik Reinert is surely the most thoughtful, original and prolific muse of the Other Canon of economic development theory in our times. This tome of his wide-ranging work addresses contemporary development challenges by creatively interrogating received theory, especially informing investment and technology policy. —JOMO Kwame Sundaram, Visiting Senior Fellow at Khazanah Research Institute, Visiting Fellow at the Initiative for Policy Dialogue, Columbia University, and Adjunct Professor at the International Islamic University in Malaysia
Author Information
Erik S. Reinert is Professor of Technology Governance and Development Strategies at Tallinn University of Technology and also chairman of The Other Canon Foundation in Norway. He holds a BA from Hochschule St. Gallen, Switzerland, an MBA from Harvard University, and a Ph.D. in economics from Cornell University.
Lecturing in five languages, Reinert’s work has taken him to more than 65 different countries. His book How Rich Countries Got Rich…and Why Poor Countries Stay Poor has been published in more than 20 languages.
Series
Anthem Other Canon Economics
Table of Contents
Introduction; 1 Catching-up from Way Behind. A Third World Perspective on First World History; 2 Recent Trends in Economic Theory — Implications for Development Geography, With Vemund Riiser; 3 A Schumpeterian Theory of Underdevelopment - A Contradiction in Terms?; 4 Competitiveness and Its Predecessors - A 500-Year Cross-national Perspective; 5 Diminishing Returns and Economic Sustainability: The Dilemma of Resource-based Economies under a Free Trade Regime; 6 Economics: ‘The Dismal Science’ or ‘The Never-ending Frontier of Knowledge’? On Technology, Energy and Economic Welfare; 7 Production Capitalism vs. Financial Capitalism – Symbiosis and Parasitism. An Evolutionary Perspective and Bibliography Bibliography by Arno Mong Daastøl; 8 Globalization in the Periphery as a Morgenthau Plan: The Underdevelopment of Mongolia in the 1990s; 9 Increasing Poverty in a Globalized World: Marshall Plans and Morgenthau Plans as Mechanisms of Polarization of World Incomes; 10 An Early National Innovation System: The Case of Antonio Serra’s 1613 Breve Trattato,
With Sophus A. Reinert; 11 Innovation Systems of the Past: Modern Nation-States in a Historical Perspective. The Role of Innovations and of Systemic Effects in Economic Thought and Policy, With Sophus A. Reinert; 12 The Other Canon: The History of Renaissance Economics, With Arno M. Daastøl; 13 Benchmarking Success: The Dutch Republic (1500–1750) as Seen by Contemporary European Economists; 14 Mercantilism and Economic Development: Schumpeterian Dynamics, Institution Building and International Benchmarking, With Sophus A. Reinert; 15 Development and Social Goals: Balancing Aid and Development to Prevent ‘Welfare Colonialism’
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