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In the last few years it has become apparent that during the 1940s and 1950s, a core of ideas emerged regarding external economies, strategic complementarity, and economic development that remains intellectually valid and may continue to have practical applications. This set of ideas which I will refer to as "high development theory" — anticipated in a number of ways the cutting edge of modern trade and growth theory. But these ideas have had to be rediscovered. Between 1960 and 1980 high development theory was virtually buried, essentially because the founders of development economics failed to make their points with sufficient analytical clarity to communicate their essence to other economists, and perhaps even to each other. Only recently have changes in economics made it possible to reconsider what the development theorists said, and to regain the valuable ideas that have been lost. (en) |
