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"The fifth edition of The Process of Economic Development offers a thorough and up-to-date treatment of development economics. It has been extensively revised throughout, reflecting the most recent developments in research and incorporating the latest empirical data, as well as key theoretical advances and many new topics. The world has seen vast economic growth in China, economic transformation in India, challenges in Latin America, rapid economic progress in Southeast Asia and the deepening impact of environmental issues such as climate change. This new edition addresses all these critical issues as well as the pivotal role of the state, where China's capacity is contrasted with that of the African states. Transnational corporations' reliance on low-wage manufacturing and labour arbitrage is featured. Agricultural policy-extensively explored-remains crucial, as does the promotion of industrialization. This fifth edition offers a 'state-of-the-art' analysis of these essential themes and many others. Numerous case studies and issue focuses have been integrated with sundry central topics. Neoclassical theories and applications, including a timely exploration of behavioral economics, are accessibly explicated. Cypher's comprehensive account remains the development economics text par excellence, as it takes a much more practical, hands-on view of the issues facing developing countries than other, overly mathematical texts. This book is unique in its scope and in the detailed attention it gives to a vast range of ideas, including pioneering developmentalist and heterodox formulations. Distinct institutional structures are examined within their historical contexts. This landmark text will continue to be an invaluable resource for students, teachers and researchers in the fields of development economics and development studies."

Cover -- Half Title -- Series Page -- Title -- Copyright -- Dedication -- Contents -- List of Tables -- Acknowledgments -- Introduction -- A Short Note on Research Methodology -- From the Outside Looking In -- 1 The Political Economy of the State in Mexico: An Overview -- State-led Development -- Technology: A Missing Link -- Full Capitalism or Disarticulated Production -- Three Stages of the Mexican State -- Notes -- 2 Theories of the Mexican State -- The State as Rector: The Sui Generis Mexican State -- The Qualitative Nature of the Mexican State -- Instruments of the State -- The Dependency Framework and the Mexican State -- Relative State Autonomy -- A Unity of Opposites? Relative Autonomy and Instrumentalism -- Bravo's State Sectoral Function -- Declining Autonomy, Rising Oligarchy? -- State Monopoly Capitalism -- The State as a Historical Subject -- Notes -- 3 The State and the Macroeconomy in the "Miracle" Years: 1940-1970 -- The War Period: Peasants Versus Agribusiness, 1940-1946 -- The Agricultural Boom, 1946-1955 -- The Capitalist-Rentier State Form -- The End of Primary Industrialization, 1953-1955 -- The Making and Unmaking of the Mexican Miracle, 1955-1970 -- Theoretical Interpretations of the Stabilized Growth Period -- Notes -- 4 La Docena Trágica: 1970-1982 -- Echeverría and the Macroeconomy -- Echeverría and Statism -- José López Portillo and the Petro Boom -- The Economic Breakdown of 1981-1982 -- The Bank Nationalization -- Notes -- 5 The Structure of the State Sector: The Parastate Firms -- Concentration in the Parastate Sector -- Growth and Structure of the Parastate Sector -- Issues of the State Sector -- In Defense of the State -- The Shift Toward Privatization -- 6 President de la Madrid Hurtado's Sexenio: The Crisis and the Neoliberal Ascendancy -- Crisis, What Crisis? -- An Overview of the Macroeconomic Fluctuations.

In development studies it is widely recognized that state intervention has been more profound in Mexico than elsewhere in Latin America. Since the 1930s, successive governments have actively adopted import substitution as a means of spurring economic growth, often with spectacular results. The collapse of the petro-boom in 1982, however, brought an

Written by two leading scholars, this book provides a detailed analysis of Mexico's political economy. James M. Cypher and Raúl Delgado Wise begin with an examination of Mexico's pivotal economic crisis of the 1980s and the consequent turn toward an export-led economy, later anchored by NAFTA. They show how Mexico, after abandoning frequently successful past practices of state-led development, disastrously tied its future to an unconditional reliance on foreign corporations to promote an export-led growth strategy. This strategy, they convincingly argue, has resulted in a fragmented economy marked by stagnation, falling wages, informal part-time employment, and massive migration, which define daily life for all but a tiny minority.

The U.S. industrial-military-congressional complex is made up of the interdependent dynamics of military contractor corporations, military forces, intelligence agencies, and the civilian national security state, which take form as strategy, political-economy factors, and international affairs shift.

From the 1930s until the early 1970s, national industrialization programs in Latin America were part of an effort to introduce social policies that broadened the national market, indirectly creating employment opportunities. Yet, Celso Furtado and other structuralists found the pattern of investment in Latin America predetermined by the unequal composition of aggregate demand, skewed toward the landholding-industrial-financial elite and newly emerged professional strata, leading to constricted employment. In reaction to the inclusive policies urged by the structuralists, insurgent neoliberal policies created a new climate of hostility toward unions and indifference to employment. Neoliberal doctrines deconstructed labor's eminence, forcing flexibility and precariousness while labor laws and unions were conjured as market distortions. Social neoliberalist, neostructuralist, and neodevelopmentalist regimes arose in the early twenty-first century as a reaction to the failure of neoliberalism to create growth and employment security. These temporary regimes have focused largely on income transfer policies, deploying economic surpluses arising from reprimarization as serendipitous exogenous forces generated export income windfalls from the commodities boom. Fundamental issues such as the pervasiveness of informal work, the recent introduction of flexible employment regimes, and deunionization have not been addressed.Desde la década de 1930 hasta principios de la década de 1970, los programas nacionales de industrialización en América Latina fueron parte de un proyecto para introducir políticas sociales que ampliaran el mercado nacional, generando indirectamente oportunidades de empleo. Sin embargo, Celso Furtado y otros estructuralistas notaron que el patrón de inversión en América Latina estaba predeterminado por la composición desigual de la demanda agregada y favorecía a la élite terrateniente-industrial-financiera y los estratos profesionales recién surgidos, todo lo cual restringía el empleo. En respuesta a las políticas inclusivas instadas por los estructuralistas, las políticas neoliberales emergentes tomaron una postura hostil hacia los sindicatos y trataron la cuestión del empleo con indiferencia. Las doctrinas neoliberales deconstruyeron la eminencia del trabajo, dando lugar a la flexibilidad y la precariedad, mientras que las leyes laborales y los sindicatos se presentaron como distorsiones del mercado. Los regímenes sociales neoliberales, neoestructuralistas y neodesarrollistas surgieron a principios del siglo XXI en reacción al fracaso del neoliberalismo para generar crecimiento y seguridad laboral. Estos regímenes temporales se han centrado en gran medida en las políticas de transferencia de ingresos, utilizando superávits económicos derivados de la reprimarización, ya que fuerzas exógenas coyunturales inesperadas generaron ingresos extraordinarios a raíz del boom de los productos básicos. Sin embargo, no se han abordado cuestiones fundamentales como la omnipresencia del trabajo informal, la reciente introducción de regímenes flexibles de empleo y la destrucción de los sindicatos.

Celso Furtado, a creator of Latin American structuralist political economy, was riveted on the construction of a viable national development project for Brazil. As a sophisticated advocate for structural change, he represented forward-looking reformism based in a pragmatic analysis of underdevelopment -- 'the' underlying condition of peripheral nations. The objective of this article is to offer both a synthesis and an evaluation of his contributions to the political economy of development economics. The hypothesis of this article is that Furtado's methodological/analytical stance -- in particular, (1) his dynamic, historically contextualized, approach and (2) his tendency to center development on technological capacity -- merits broader acceptance and greater acclaim. An ancillary hypothesis maintains that, whereas Furtado's work paralleled that of early U.S. institutionalism (particularly that of Veblen), he and his followers have thus far missed an important opportunity to explore the complementarities and synergies that might have been forged to renovate the Furtadian developmentalist perspective. Adapted from the source document.