Economic Development and the Division of Labor

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ISBN: 9780631220046 Category:

This innovative new text from Jeffrey Sachs and Xiokai Yang introduces students to development economics from the perspectives of inframarginal analysis and marginal analysis. The book demonstrates how the new-found emphasis on inframarginal analysis has influenced a shift back to an interest in Classical Economics from Neoclassical Economics. <br /> <ul> <li style=”list-style: none”><br /> </li> <li>Inframarginal Analysis vs. Marginal Analysis is presented as a consistent theoretical framework throughout.<br /> </li> <li>Shows how the relationship of Inframarginal Analysis to Marginal Analysis has influenced the shift back to an interest in Classical Economics from Neoclassical Economics with regard to economic development.<br /> </li> <li>Allows economists to reduce their overall reliance on marginal analysis, which may be less relevant to development economics than it is to the economics of development countries.<br /> </li> <li>Brings considerable analytic machinery to bear on important problems.<br /> </li> <li>A focus on institutions and transaction costs that is very relevant to development economics.<br /> </li> <li>Offers a thorough analysis of trade (CHs. 3 – 7) and macroeconomics (CHs. 16 – 19), both of which are not dealth with in depth by comparable textbooks.</li> </ul>

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