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Neoclassical economic theory and development economics have failed to deliver the much higher rates of growth and overall development that they promised would result from the freeing up of markets. This book takes issue with the nostrums that underlie free market policies in both developing countries and the rich industrial nations. The contributors want to rethink economics as a discipline and development as a process. Economics needs to redefine many of its concepts to reflect the complex realities of functioning economies. And development needs to be reconceived as a process of social change, in which each country's particular history and institutional workings take centre stage. They point the way to a much more sophisticated understanding of economic development. The ultimate prize, if theory can be grounded in a more accurate analysis of social change, is policies that really will deliver higher economic growth and greater social justice worldwide.
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Table of Contents

Part I: Framing the Problem1. Introduction - Silvana De Paula and Gary A. Dymski2. The Planned Development of Latin America: A Rhetorical Analysis of Three Documents from the 1950s - Ana Maria Bianchi3. The Other Canon and Uneven Growth : The Activity-specifc Elements of Economic Development - Erik S. ReinertPart II: Rethinking the Role of Institutions and Macrostructures in Development4. Institutions and Economic Development: Constraining, Enabling and Reconstituting - Geoffrey M. Hodgson5. The Role of Institutions in Economic Change - Ha-Joon Chang and Peter Evans6. Banking and Financing of Development: A Schumpeterian and Minskyian Perspective - Jan Kregel and Leonardo BurlamaquiPart III: Rethinking the Microstructure of Development: Individuals and Communities in Global and Local Spaces7. Consumer Society: What Opportunities for New Expressions of Citizenship and Control? - John Wilkinson8. Society, Community, and Economic Development - Michael Storper9. Poverty and Social Discrimination: A Spatial Keynesian Approach - Gary A. DymskiPart IV: Rethinking the Participatory Process: Local and Global Connections10. The World Social Forum: A Space for the Translation of Diversity in Social Mobilization - Nelson Giordano Delgado and Jorge O. Romano

About the Author

Gary Dymski is based in the economics department of the University of California Riverside. Silvana De Paula is at the Universidade Federal Rural do Rio de Janeiro. The contributors are internationally known economists, social scientists and development theorists. They include Zed author Ha-Joon Chang.


REIMAGINING GROWTH excavates and restores the rich traditions of Prebisch, Keynes, Minsky, Schumpeter and Veblen and applies them to problems of economic development in the rubble left by the Washington Consensus. These subtle papers find unity in commitment to robust institutions, anchored in democratic legitimacy and in respect for the diversity of needs, conditions, and policies arising around the world. In giving this commitment new theoretical form, REIMAGINING GROWTH goes far toward emancipating development economics from the straitjackets of neoclassical thought.' - James K. Galbraith, The University of Texas at Austin; "Re-imagining Growth: Towards a Renewal of the idea of Development" is a collection of interesting and provocative PIECES in that they renew development schemas, models and theories. Historical experience, political conflicts and other development perspectives are part of the analyses presentED. THIS book'S new visions, interpretations and language allow us to better understand development.' - Dr. Joao Sayad, Vice President for Finance and Administration, Inter-American Development Bank; 'This book is essential reading for those who care about the future of economic development. For the past quarter-century, development policy was put at the service of orthodox economic theory. The results have been poor: inequality has increased in a large number of countries, growth has been frustrating in most of the developing world and macroeconomic crises have been frequent. Now development theory must be put at the service of equity and development. Re-Imagining Growth takes up this challenge, addressing such major issues as national and intra-national power relations, social inequality and discrimination, innovation, and financial fragility. Some of the chapters introduce the reader to new ways of understanding democracy from below, while inviting the reader to find new arenas and ways of creating it. This book moves us closer to a new, broader conceptual basis for economic development.' - Jose Antonio Ocampo, Under-Secretary-General of the United Nations for Economic and Social Affairs

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