In and against Development: From New to Newest Development Economics

Ben Fine is Emeritus Professor of Economics at SOAS University of and Visiting Professor at Wits School of Governance, University of Witwatersrand, South Africa. His most recent books include Material Cultures of Financialisation, co-edited with Kate Bayliss and Mary Robertson (Routledge, 2018); Race, Class and the Post-Apartheid Democratic State, co-edited with John Reynolds and Robert van Niekerk (University of KwaZulu-Natal Press, 2019); and A Guide to the Systems of Provision Approach: Who Gets What, How and Why, with Kate Bayliss (Palgrave, 2021). His Marx’s ‘Capital’ (Pluto, 2016) is now in its sixth edition (with co-author Alfredo Saad-Filho). He was founding Chair of the International Initiative for Promoting Political Economy (iippe.org) until June 2023.

• Preface 1 Introduction: Towards a History of Development Economics Postscript as Personal Preamble 1 The Paradoxes of Development 2 From Economics to Economics Imperialism 3 From Pre-washington Consensus … 4 … to Post Washington Consensus 5 Twixt Development Economics … 6 … and Development Studies 7 Future Prospects 2 Entitlement Failure? Postscript as Personal Preamble 1 Introduction 2 The Entitlement Approach as Such 3 Is the Entitlement Approach Micro or Macro? 3.1 Establishing Entitlements? 3.2 Classes, Value and Economic Theory 3.3 Approach and Method 4 The Specificity of Food 5 Concluding Remarks 3 Economics and Ethics: Amartya Sen as Starting Point Preamble Postscript 1 Introduction 2 From Social Choice to Development as Freedom 3 Conclusion 4 Economics Imperialism and the New Development Economics as Kuhnian Paradigm Shift Postscript as Personal Preamble 1 Introduction 2 Neo-liberalism, Postmodernism and Economics Imperialism 3 Post Washington Consensus as Kuhnian Revolution? 4 The Prospect Ahead by Way of Conclusion 5 New Trade Theory Versus Old Trade Policy: A Continuing Enigma Postscript as Personal Preamble 1 Introduction 2 Conventional Arguments for Trade Liberalisation 3 New Trade Theory 3.1 Market Imperfections and Strategic Behaviour 3.2 Links with New Growth Theory 3.3 Political Economy Arguments 4 Empirical Evidence 4.1 Cross-Country Research 4.2 Industry and Firm-Level Studies 5 Concluding Remarks 6 A Formal Note on New Theories of International Trade and Development Postscript as Personal Preamble 1 Introduction 2 Model of Type i 3 Type ii Models 4 Concluding Remarks 7 Beyond the Developmental State Postscript as Personal Preamble 1 The Lecture 8 Locating Industrial Policy in Developmental Transformation: Lessons from the Past, Prospects for the Future Postscript as Personal Preamble 1 Introduction 2 From Defining Industrial Policy … 3 … to the Developmental State as Such 3.1 The Evolution of the dsp 4 Financialisation and Economic Structure 4.1 Financial Liberalisation after the Bretton-Woods Period 4.2 Corporate Restructuring, Value Chains and Financialisation 4.3 Financialisation of Nonfinancial Corporations 5 Neoliberalism, Financial Liberalisation and Financialisation in Developing Countries 6 Developmentalism within the Neoliberal Era 7 Concluding Remarks References Index