Open AccessNaqvi, Syed Nawab Haider. Development Economics: A New Paradigm. New Delhi: Sage Publications. 1993.208 pp.Indian Rupees 200.00.
Author(s) -
Lawrence R. Klein
Publication year - 1994
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v33i2pp.191-193
Subject(s) - subject (documents) , economics , pareto principle , competition (biology) , distribution (mathematics) , neoclassical economics , income distribution , development (topology) , welfare , general equilibrium theory , positive economics , mathematical economics , macroeconomics , inequality , mathematics , computer science , market economy , ecology , mathematical analysis , operations management , library science , biology
In this book Professor Naqvi expresses his dissatisfactionwith the attitude of economists, in general, towards the subject ofdevelopment economics. His book rejects "the viewpoint that developmenteconomics is some brand of applied economics". From Professor Naqvi'sperspective, development economics is a legitimate subject in its ownright and should not be summarily treated as though its analysis can behandled by the ordinary tools of general economics. It should stand withwelfare economics, econometrics, international trade, industrialorganisation, or labour economics as a separate subject with someparticular premises, conclusions, and methodology. Developmenteconomics, according to Professor Naqvi, should be based on ethicalconsiderations of such phenomena as poverty, distribution, andunemployment. In the study of general economic equilibrium, scholarshave shown how the existence theorems establish conditions for Paretooptimality, but their assumptions are that income distribution is given,that technique is given, and that all conditions for perfect competitionare met. While these are beautiful theorems with welfare economicimplications, they do not serve development economics well becausetechnological progress, evolving income distributions, and many marketimperfections are typical features of the very process ofdevelopment.