The first of two volumes written “in and against development” tells the story of how of The Economics of Everything, or Economics Imperialism, became a dominant presence in development economics.
Today, economics imperialism sets the agenda in development studies, with the World Bank taking a leading, if contested, role. This volume examines how this happened, charting the evolution from the old or classic development economics through the new, newer and newest development economics. Drawing critically upon the Kuhnian notions of paradigm shifts, corresponding changes are contextualized materially, intellectually and policy-wise. Covering key issues such as famine, the developmental state, and trade and industrial policy, detailed attention is paid to the potential for alternatives for economics and economic policies.
Publication date: July 1, 2026
Preface
1 Introduction: Towards a History of Development Economics
Postscript as Personal Preamble
1 The Paradoxes of Development
2 From Economics to Economics Imperialism
3 From Pre-washington Consensus …
4 … to Post Washington Consensus
5 Twixt Development Economics …
6 … and Development Studies
7 Future Prospects
2 Entitlement Failure?
Postscript as Personal Preamble
1 Introduction
2 The Entitlement Approach as Such
3 Is the Entitlement Approach Micro or Macro?
3.1 Establishing Entitlements?
3.2 Classes, Value and Economic Theory
3.3 Approach and Method
4 The Specificity of Food
5 Concluding Remarks
3 Economics and Ethics: Amartya Sen as Starting Point
Preamble
Postscript
1 Introduction
2 From Social Choice to Development as Freedom
3 Conclusion
4 Economics Imperialism and the New Development Economics as Kuhnian Paradigm Shift
Postscript as Personal Preamble
1 Introduction
2 Neo-liberalism, Postmodernism and Economics Imperialism
3 Post Washington Consensus as Kuhnian Revolution?
4 The Prospect Ahead by Way of Conclusion
5 New Trade Theory Versus Old Trade Policy: A Continuing Enigma
Postscript as Personal Preamble
1 Introduction
2 Conventional Arguments for Trade Liberalisation
3 New Trade Theory
3.1 Market Imperfections and Strategic Behaviour
3.2 Links with New Growth Theory
3.3 Political Economy Arguments
4 Empirical Evidence
4.1 Cross-Country Research
4.2 Industry and Firm-Level Studies
5 Concluding Remarks
6 A Formal Note on New Theories of International Trade and Development
Postscript as Personal Preamble
1 Introduction
2 Model of Type i
3 Type ii Models
4 Concluding Remarks
7 Beyond the Developmental State
Postscript as Personal Preamble
1 The Lecture
8 Locating Industrial Policy in Developmental Transformation: Lessons from the Past, Prospects for the Future
Postscript as Personal Preamble
1 Introduction
2 From Defining Industrial Policy …
3 … to the Developmental State as Such
3.1 The Evolution of the dsp
4 Financialisation and Economic Structure
4.1 Financial Liberalisation after the Bretton-Woods Period
4.2 Corporate Restructuring, Value Chains and Financialisation
4.3 Financialisation of Nonfinancial Corporations
5 Neoliberalism, Financial Liberalisation and Financialisation in Developing Countries
6 Developmentalism within the Neoliberal Era
7 Concluding Remarks
References
Index