The core of classical economic analysis represented by William Petty and Adam Smith concentrated on the field of development economics. This classical footing of the study of development is different from the neoclassical perspective in two important respects: (a) it focuses on division of labor as the driving force of development, and (b) it emphasizes the role of the market (the "invisible hand") in exploiting productivity gains that are derived from division of labor. However these aspects have received little attention in the body of literature that represents the modern field of development economics -- which largely represents the neoclassical application of marginalism. A notable exception is research that utilizes inframarginal analysis of individuals' networking decisions in an attempt to formalize the classical mechanisms that drive division of labour. This book is a first attempt to collect relevant key contributions and will be invaluable to active researchers in the field of development economics.
About the Author :
Xiaokai Yang has contributed to Inframarginal Contributions to Development Economics as an editor.
Xiaokai Yang is Professor in the Department of Economics at Monash University and an affiliated Fellow in the Center for International Development, Harvard University. His research papers have appeared in "The American Economic Review, Journal of Political Economy," and other refereed journals. He is the author of eight books, and is co-author, with Jeffrey Sachs, of "Development Economics" (Blackwell, 2001).
|Title:||Inframarginal Contributions to Development Economics||Publisher:||World Scientific Publishing Company|
|Author:||Christis Tombazo, Xiaokai Yang|
|No. of Pages:||564|
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