A country's industrial policy aims at promoting the development of sectors that often relate to manufacturing and is especially important for less-developed countries as they seek to catch up economically. Industrial Development and Division of Labor re-examines the long history behind the debate on its formulation and organises the discussion around the two types of division of labour found in Adam Smith's Wealth of Nations. One type has evolved to become the neoclassical perspective and its notion of market failure that has heavily skewed the debate's history. Noting its limitations, including the simplified catch-up learning that is conceived, this book illustrates that arguments for industrial policy that are rejected by Neoclassical economists so-called 'protectionist' and import-substituting ones and newer notions involving innovation systems actually share roots with Smith's other type of labour division. They offer broader perspectives on policy that call for establishing elaborate interactive contexts for learning for development.
Arvustused
'This work gives a broad historical overview of how economists have analyzed industrial development and derived conclusions regarding the role of industrial policy. Using Adam Smith's analysis of the division of labor as its starting point, the work covers both mainstream and heterodox perspectives. Given the recent renaissance of industrial, trade and innovation policy, the work is timely, making it possible to refer current debates to the history of economic thought.' Bengt Åke Bertil Lundvall, Emeritus Professor at Aalborg University, Denmark 'Peter Ho's very original and insightful heterodox intellectual history of industrial development builds on his original reading of Adam Smith's largely ignored understanding of the division of labor in manufacturing operations and processes. In his largely sequential account of key ideas in postwar economic development analysis, he explains the rise, limitations and fall of earlier fads and orthodoxies. With the recent embrace of once-forbidden industrial policies by both Biden and Trump administrations in Washington, this book almost anticipates their eventual critique.' Jomo Kwame Sundaram, Emeritus Professor University of Malaya, former United Nations Assistant Secretary-General for Economic Development
Muu info
It provides a critical history of the industrial policy debate, organised around Adam Smith's two types of division of labour.
1. Introduction;
2. Smith's two types of DoL and their treatment in the
hands of Ricardo;
3. Hamilton, list, Rae, Carey: sceptical of DoLfg, sought
to replicate DoLop;
4. Mill, Marshall, Jevons: extended DoLfg analysis,
admired benefits of DoLop;
5. DoLfg-based trade with marginalist features, GE
and commercial policy theories;
6. Marx, Young, Marshall(v): DoLop and new
technological convergence;
7. Rosenstein-Rodan, Nurkse: consumption
complementarities with no DoLop analysis;
8. Hirschman: existing technology
convergence, joint-PL activation, and DoLop extension;
9. Krugman, Ethier:
two branches of nt theory, with one exhibiting pseudo DoLop;
10. The GVC
literature: a trojan horse for the return of neoliberalism?;
11. NSI and TC
research: interactive learning, TC deepening in DoLop context;
12. The
current round of the IP debate;
13. A dialogue among production-centred
research streams, with concluding thoughts.
P. Sai-wing Ho is Professor Emeritus in Economics at the University of Denver. His research interest in Development Economics, International Economics and History of Economic Analysis is well encapsulated by his book, Rethinking Trade and Commercial Policy Theories: Development Perspectives (2010) and his many articles published in various heterodox economic journals.
