Foundations of Contemporary Economics: Alexander Gerschenkron

Teodor Sedlarski and Henrik Egbert ()

Economic Thought journal, 2016, issue 1, 133-141

Abstract: Alexander Gerschenkron was one of the leading economic historians and development economists of the 20th century. His book of essays, Economic Backwardness in Historical Perspective, is one of the most important books ever published in economic history. This text summarizes two of Gerschenkron’s ideas, which have influenced the development theory beyond its originally European contexts: Firstly, the calculation of Sowjet growth rates which were a puzzle in his time. The detected calculation mistakes of the Sowjet economy are nowadays known as the Gerschenkron effect. Secondly, we illustrate some of the aspects of his central theory of economic backwardness for industrialization and catch-up development processes.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2016:i:1:p:133-141

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