© 2018


The Re-Balancing of Economic Powers

  • Presents a recent history of development theories and debates from 1950 to the present

  • Presents a theoretical framework to discuss different issues related to growth, multifaceted development and power structures

  • Stresses the role of economic powers and structures, paying particular attention to the issue of financialization

  • Argues that development is a dialectic relationship between people's empowerment and the existing social and economic structures


Table of contents

  1. Front Matter
    Pages i-xv
  2. Gianni Vaggi
    Pages 127-146
  3. Back Matter
    Pages 147-172

About this book


This book provides a brief history of the concept of development and policies relating to it. Readers will find an overview of how development has been discussed and debates from 1950 to the present. The author argues that development is a dialectic relationship between people's empowerment and the existing social and economic structures.

Chapters examine well-known economic growth models from Harrod in 1939 to Solow in 1956, but it contends that contemporary issues on development can be better understood with the help of the founding fathers of economics, namely Smith and Marx. The work offers some examples of how to re-balance the existing economic powers with the problem of long-term financing for development in mind.


Developing countries Economic structures Economic growth Sustainability Human development Asia Low-income countries Secular stagnation Labour market Social welfare Economic growth theories Solow Harrod Market efficiency hypothesis Millennium Development Goals Sustainable Development Goals Financial crises Protectionist policies Inequality Use and Exchange values

Authors and affiliations

  1. 1.Department of Economics and BusinessUniversity of PaviaPaviaItaly

About the authors

Gianni Vaggi is Professor of Economics of Cooperation and Development and Director of the homonymous Master Program at the University of Pavia, Italy. He has coordinated several cooperation and development programs in the Middle East and in Sub-Saharan Africa and is Director of the UNESCO UNITWIN Network in International Cooperation and Development. He was awarded his PhD in Economics from the University of Cambridge, UK. His main fields of research are the history of economic thought and development economics.

Bibliographic information

Industry Sectors
Finance, Business & Banking