The Poverty of 'Development Economics'

272 Pages Posted: 2 Apr 2005

See all articles by Deepak Lal

Deepak Lal

University of California, Los Angeles (UCLA) - Department of Economics; University College London


In this revised and expanded version of a classic IEA text, first published in 1983, but revised and expanded in 1997, Professor Lal provides a robust critique of the statist model of development which denigrates both trade and open markets. He concludes that the demise of this dogma would be beneficial to the health of both the economics and the economies of developing countries.

The history of the last twenty years has demonstrated the force of the Lal critique. The dogma in its old form has gone, as Professor Lal shows in a postscript that brings the original text up to date both in terms of statistics and in terms of the history of ideas. Nevertheless, as he warns, dirigiste tendencies have not disappeared, but are emerging in new guises.

Keywords: development economics, poverty, third world, growth

JEL Classification: O20, O24, O50, O55

Suggested Citation

Lal, Deepak K., The Poverty of 'Development Economics'. IEA Hobart Paper No. 144, Available at SSRN: or

Deepak K. Lal (Contact Author)

University of California, Los Angeles (UCLA) - Department of Economics ( email )

Box 951477
Los Angeles, CA 90095-1477
United States
310-825-4521 (Phone)
310-825-1011 (Fax)

University College London

Gower Street
United Kingdom

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