Foundations of Contemporary Economics: Albert Hirschman on Economic Development through Unbalanced Growth

Henrik Egbert, Teodor Sedlarski and Aleksandar B. Todorov

Economic Thought journal, 2025, issue 3, 301-319

Abstract: Albert Hirschman (1915–2012) was an economist known for his influential interdisciplinary social science models. In the 1950s, he developed the theory of unbalanced growth, which changed development theory. Hirschman argued that partial effects induced by targeted investments can have positive economic impacts on the development of national economies. In another behavioural model – exit and voice, he explains how dissatisfied individuals can react and how these reactions may affect the quality of output provided in both private and public goods. Hirschman's ideas have been incorporated into many concepts in the social sciences.

JEL-codes: B31 O1 O54 P11 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2025:i:3:p:301-319

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