Mercantilism was probably the first theory of economic development the European nation-states invented; it called for the development of industry, the promotion of exports, and the limitation of imports through protectionism. But as these policies were being pursued with a vengeance, a world of interdependence was slowly emerging and making mercantilism controversial. Adam Smith published his thesis The Wealth of Nations in 1776, which brought new economic ideas and paved the way for the development of the classical economic theory.


Social Capital Economic Freedom Dependency Theorist Trading State Poor Nation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    John Knippers Black, Development in Theory and Practice (Westview Press, 1989), 15.Google Scholar
  2. 2.
    John Kenneth Galbraith, Economic Development (Harvard University Press, 1969), 3.Google Scholar
  3. 3.
    Cited by Yusif Sayigh, The Determinants of Arab Economic Development (St. Martin’s Press, 1978), 24.Google Scholar
  4. 4.
    W. W. Rostow, Stages of Economic Growth (Cambridge University Press, 1965), 149.Google Scholar
  5. 6.
    Hla Myint, Economic Theory and the Underdeveloped Countries (Oxford University Press, 1971), 18–19.Google Scholar
  6. 10.
    Milton Friedman, Capitalism and Freedom (University of Chicago Press, 2002), 133.CrossRefGoogle Scholar
  7. 11.
    Sunil Kureja, “The Neoliberal Consensus on Development,” in Introduction to International Political Economy, eds. David N. Balaam and Micheal Veseth (Prentice Hall, 2001), 333.Google Scholar
  8. 12.
    Theotonio Dos Santos, “The Structure of Dependence,” American Economic Review 60 (May 1970): 231.Google Scholar
  9. 14.
    David S. Landes, The Wealth and Poverty of Nations (W. W. Norton, 1999), 328.Google Scholar
  10. 15.
    David Balaam and Michael Veseth, eds., Introduction to International Political Economy (Prentice Hall, 2001), 79.Google Scholar
  11. 17.
    Gerald Meier, Biography of a Subject: An Evolution of Development Economics (Oxford University Press, 2005), 100.Google Scholar
  12. 18.
    David Korten, When Corporations Rule the World (Berrett-Koehler Publishers, 2001), 241.Google Scholar
  13. 19.
    Dudly Seers, “The Limitations of the Special Case,” in Development Economics, eds. Kurt Martin and John Knapp (Aldine Publishing Company, 1967), 2.Google Scholar
  14. 20.
    Gerald M. Meier, Leading Issues in Economic Development (Oxford University Press, 1970), 62.Google Scholar
  15. 24.
    Paul Ormerod, Butterfly Economics (Pantheon Books, 2000), 6.Google Scholar
  16. 25.
    Albert Hirschman, The Strategy of Economic Development (Yale University Press, 1967), 29.Google Scholar

Copyright information

© Mohamed Rabie 2016

Authors and Affiliations

  • Mohamed Rabie

There are no affiliations available

Personalised recommendations