Economic Development and the Division: Inframarginal Versus Marginal Analysis

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9780631220046: Economic Development and the Division: Inframarginal Versus Marginal Analysis
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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. Inframarginal Analysis vs. Marginal Analysis is presented as a consistent theoretical framework throughout. 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. 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. Brings considerable analytic machinery to bear on important problems. A focus on institutions and transaction costs that is very relevant to development economics. 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.

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Review:

Economic Development and the Division of Labor is an exciting contribution that offers innovative perspectives on growth and development. It covers a void in the literature, and provides a rich and deep interpretation of the impact of endogenous specialization, institutions, and economic structure on growth. The text strikes a very good balance between the intuitive and analytical discussions, and relies constantly on references to contemporary data and the problems facing developing countries. Joshua Aizenman, Dartmouth College


Economists, whatever their speciality, will find the book rewarding to read and stimulating to teach. Merton J. Peck, Yale University

Xiaokai Yang is one of the world s most penetrating and exacting economic theorists, and one of the most creative minds in the economics profession. Jeffrey D. Sachs, Columbia University

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This innovative new book from Xiaokai Yang introduces students to development economics through the lens of inframarginal and marginal analyses, and shows how this way of thinking has influenced a shift back to classical economic theory within the field of economic development. Yang offers a thorough analysis of trade and macroeconomics not to be found in comparable works, and focuses on institutional and transaction cost issues of critical interest to development economists.

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9780631220039: Economic Development and the Division of Labor: Inframarginal Versus Marginal Analysis

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ISBN 10:  0631220038 ISBN 13:  9780631220039
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Book Description John Wiley and Sons Ltd, United Kingdom, 2003. Paperback. Condition: New. Language: English . Brand New Book. 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. * Inframarginal Analysis vs. Marginal Analysis is presented as a consistent theoretical framework throughout. * 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. * 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. * Brings considerable analytic machinery to bear on important problems. * A focus on institutions and transaction costs that is very relevant to development economics. * 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. Seller Inventory # AAH9780631220046

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