Keynesian Models of Economic Development and Their Limitations: an Analysis in the Light of Gunnar Myrdal’s ‘Asian Drama’

H. W. Singer

Chapter 2 in The Strategy of International Development, 1975, pp 22-42 from Palgrave Macmillan

Abstract: Abstract Modern economics and modern economic models originated in the decade of the 1930s when the pressing current problem, namely the world depression and mass unemployment in the industrial countries, became a matter of great concern to everybody including the economists. One man of genius arose among those living at that time, John Maynard Keynes, who managed to see beyond the conventional, traditionally accepted concepts. He developed a new mode of thinking, which he expressed in terms of a model — at least an implicit model, which some of the people working with him made explicit. This model was found extremely helpful in discarding traditional ideas and in finding a solution on the intellectual plane to the problem of mass unemployment in industrial countries: a solution which has quite successfully withstood the test of time, in policy application as well as in theoretical terms.

Keywords: Industrial Country; National Income; Hybrid Seed; Underdeveloped Country; Traditional Sector (search for similar items in EconPapers)
Date: 1975
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-04228-9_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349042289

DOI: 10.1007/978-1-349-04228-9_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().