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Summary
Summary
This widely adopted text starts with the fundamentals--what is economic growth, what is development, and what is the relationship between these two concepts? The authors examine orthodox theories of growth grounded in different schools of economics (classical, neoclassical, Keynesian, neoliberal) before considering critical alternatives (Marxist, socialist, poststructuralist, and feminist). The book elucidates the basic ideas that underpin contemporary controversies and debates surrounding economic growth, environmental crisis, and global inequality. It highlights points of contention among the various theories and links them to historical and current world events.
New to This Edition
*Reflects the latest data and global development trends, such as the effects on economies of extreme weather events and climate change.
*New discussions throughout the chapters, including the work of Thomas Piketty, Richard Florida, William Easterly, Niall Ferguson, and Arturo Escobar.
*Responds to current crises, including the global financial meltdown and its consequences and the rise of finance capitalism.
Author Notes
Richard Peet, PhD, is Professor of Geography at Clark University, where he was a founding member of the "radical geography movement" and long-time editor of Antipode: A Radical Journal of Geography . His interests include development, global policy regimes, power, theory and philosophy, political ecology, and finance capitalism. The author of numerous books, articles, and book reviews, Dr. Peet is editor of the radical journal Human Geography .
Elaine Hartwick, PhD, until her death in 2022, was Professor of Geography at Framingham State University, Massachusetts, where she taught courses in political, cultural, and regional geography and global development. She has published on commodity chains, consumer politics, social theory and development geography, with a regional specialization on Southern Africa.
Reviews (1)
Choice Review
In this second edition, Peet (geography, Clark Univ.), a founding member of the "radical geography movement," and Hartwick (geography, Framingham State College) attempt a critical survey of main theories of development. Classical economic theories are reviewed but, curiously, with scant mention of Malthus or the classical stationary state. The authors are not particularly well versed in economics, and confusion is evident in their discussions of theories of trade, utility, and growth. They characterize neoclassical economics as "a fantasy theory out of touch with reality, reversing reality, a theory dreamed on behalf of the elite." Several chapters are devoted to rather dense discussions of social theories of development, e.g., structural functionalism and sociological modernization, but with limited relevance to contemporary development theory and policy. In the summary chapter, little is offered in the way of viable alternatives, belying the title of the book, although Venezuela is cited as a possible democratic development model. A more careful and insightful analysis can be found in Gilbert Rist's The History of Development: From Western Origins to Global Faith, 3rd ed. (2008). Summing Up: Not recommended. P. N. Hess Davidson College