Market Forces and Development

Peter Smith

Chapter 4 in Market Forces and World Development, 1994, pp 58-74 from Palgrave Macmillan

Abstract: Abstract The importance of market forces solutions (MFS) to the problem of promoting development scarcely needs illustrating; yet, despite the confidence with which such solutions are still being advocated, there is growing disquiet with both their practical effects and their theoretical underpinnings (Campbell, 1991; Smith, 1991a). Unfortunately, this opposition of confidence and disquiet has failed to generate effective dialogue, and this raises major questions — with serious implications for the way in which policy, explanation and action interrelate — about the failure of the two sides to enter into dialogue and resolve it ‘scientifically’.

Keywords: Chaotic Behaviour; Equilibrium Price; Pareto Optimum; Neoclassical Economic; Naive Realism (search for similar items in EconPapers)
Date: 1994
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DOI: 10.1007/978-1-349-23138-6_4

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