December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Growth and development
KEY THINKER
Andre Gunder Frank (1929–2005)
BEFORE
1841 German economist Friedrich List argues against free trade and for protectionism in domestic markets.
1949–50 Hans Singer and Raúl Prebisch claim that the terms of trade between poor and rich countries deteriorate over time.
AFTER
1974–2011 US sociologist Immanuel Wallerstein develops Frank’s development theories to devise world-systems theory. This uses a historical framework to explain the changes that were involved in the rise of the Western world.
Rich countries claim that they do not set out to keep poor countries poor—rather that relationships between them ...
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