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Economic Development, 4th Edition, by E. Wayne Nafziger
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E. Wayne Nafziger updates the economic development of Asia, Africa, Latin America, and East-Central Europe in this fourth edition. Nafziger explains the reasons for the fast growth of Pacific Rim countries, Brazil, Poland, and (recently) India, and the increasing economic misery and degradation of large parts of sub-Saharan Africa. He also examines China and other post-socialist economies as low- and middle-income countries, without, however, overshadowing a primary focus on the third world. Nafziger's text is filled with real-world examples--emphasizing the themes of poverty, inequality, unemployment, the environment, and deficiencies of people in less developed countries.
- Sales Rank: #1760930 in Books
- Published on: 2005-12-27
- Original language: English
- Number of items: 1
- Dimensions: 9.96" h x 1.81" w x 7.99" l, 1.10 pounds
- Binding: Hardcover
- 868 pages
Review
"The 4th edition of Nafziger's book is a great improvement on an excellent 3rd edition. The book is a text book with a gold min of innovative and current ideas about development. Particularly outstanding in the new edition is the thorough treatment of poverty in Chapter 6. 'Nafziger' is the leading text in the field." -John Weeks, School of Oriental and Asian Studies (SOAS), University of London
"Professor Nafziger's highly readable multi-paradigmatic new text is a welcome addition to the literature. His balanced but critical presentation of the seminal theories in development provides a rich tapestry of ideas from which students can interpret the failures and successes of recent decades. The volume is replete with a real world understanding and measurement of the factors salient to growth and development. This text should set the standard in the field for years to come." -Howard Stein, University of Michigan, Ann Arbor
"Professor Nafziger's Economic Development is the most comprehensive text available on the subject. It is written in a clear, lively and readable fashion which makes it very accessible to students. It deals impressively with theory, policy and institutional issues in the best traditions of political economy and draws intelligently on concrete country studies. It highlights the major contemporary debates in policy and their theoretical underpinnings. For all these reasons it will quickly eclipse other textbooks in the field." -John Loxley, University of Manitoba
About the Author
E. Wayne Nafziger is University Distinguished Professor of Economics at Kansas State University. A noted authority on economic development, he is the author and editor of sixteen books, including the first three editions of this textbook, The Debt Crisis in Africa (1993) and the editor (with Frances Stewart and Raimo Vayrynen) of War, Hunger, and Displacement: The Origins of Humanitarian Emergencies, 2 volumes (2000).
Most helpful customer reviews
3 of 4 people found the following review helpful.
Depressingly orthodox account
By William Podmore
This is one of the leading textbooks in its field, by the University Distinguished Professor of Economics at Kansas State University. It is hugely thorough and covers the entire subject in five parts: the principles and concepts of economic development, income distribution, growth factors, the international economics of development, and development strategies. Unfortunately, however, this is a most orthodox account.
After citing the `widening relative gap, between GDP per capita of the richest country vis-�-vis that of the poorest country', he concludes, "income per capita in poor countries grows faster than in rich countries, as expected with diminishing returns in neoclassical growth theory." He seems to be overriding the evidence to reach the conclusion needed by the theory. According to the UN, "54 countries are poorer now [2003] than in 1990." He admits that debt relief initiatives have not been enough: "the immediate effect in decreasing actual debt-service payments, once the debtor meets conditions, is small."
He accepts, "To reduce poverty and income inequality, a society may need to enact land reform, mass education, and other such programs straightaway rather than waiting until after growth is well under way." This should include birth control programmes, because "low birth rates increase equality by decreasing unemployment."
He writes, "Land redistribution to the poor usually increases LDC [less-developed countries] agricultural output, at least after a period of adjustment." It needs redistributing: the landlord classes of Latin America and Africa currently sit on 2.7 billion hectares of unused land - 64% of all suitable land - that could be used to grow crops (Food and Agriculture Organization estimate). 90% is in Brazil, the Democratic Republic of the Congo, Sudan, Angola, Argentina, Colombia and Bolivia.
A World Bank review of the `transition' economies found that privatisation had no positive effect on growth. Two other studies found that Polish, Czech and Hungarian companies were less efficient and profitable after privatisation, because the buyers just looted from them, at the expense of the workers and the public.
He writes, "Since the early 1990s ... the international economy has been less volatile." Really? What about the Mexican crisis of 1994, the Asian crisis of 1997-99, Russia and Brazil in 1998, Turkey in 2000, Argentina in 2001-03, and the whole world in 2007-?
He writes naively, "Unlike Western democracies, political control in LDCs tends to be held by a relatively small political elite." He believes, "the market allocates scarce resources efficiently among alternative means."
Cuba rates just one index entry, Venezuela none and Nicaragua none. He grudgingly acknowledges that Cuba "provided economic security and met most of the basic needs of the bulk of the population", but fails to mention the effects of the 50-year US blockade.
He defines liberalisation as `movement toward the market' and concludes by arguing that this is the way forward for all less-developed countries, despite Joseph Stiglitz's well-documented conclusion that liberalisation's effect has been "to benefit the few at the expense of the many, the well-off at the expense of the poor."
Liberalisation may be a source of - overall - growth, but it certainly ensures that most of the gains go to the rich: it is good for the capitalist class, but bad for the working class.
2 of 2 people found the following review helpful.
No complaint
By Fils
The book itself has great and useful information. If you want to know about economic history, buy this book. Thanks to the writers.
2 of 3 people found the following review helpful.
Very poor discussion of development economics
By Chris
Overall, this is a very poor book on development economics. There is very little application of economic principles to developing countries; rather, the book is riddled with statistics about developing countries. If you want a book about economics, don't buy this book. If you want a book about the statistics of developing countries, than this is the book.
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