Understanding Development: People, Market and the State in Mixed Economies

Professor Ignacy Sachs, a well-known structural economist and important contributor to the development debate, presents in this volume some of his important writings of the 1990s. These essays cover two broad themes: the author’s perspective on developing countries in the world economy, based primarily on his work on India and Latin America; and a wide-ranging discussion on environmental issues which are analysed in this context. The author broadens the domain of the development paradigm to encompass ecology and cultural anthropology. Critical of the neoliberal counter-revolutions, the author re-emphasizes the importance of democratic planning. Liberalization and globalization, he feels, are not ‘magic shortcuts to the kingdom of prosperity and happiness’, but must be pursued alongside strategic forms of state intervention. Lack of international controls on capital movements introduces structural instability manifested as financial crises and widening gaps between, and within, countries. Developing countries must recognize the need to move away from unbridled western consumerism and chart out socially equitable and environmentally prudent development paths. This topical collection of writings will be of great interest to students and researchers in the areas of development economics, as well as to environmentalists, political scientists and sociologists. It provides keen insights and makes stimulating reading for policy-makers and general readers.