Book DescriptionVirtually all industrialized nations have annual per capita incomes greater than $15,000; meanwhile, over three billion people, more than half the worlds population, live in countries with per capita incomes of less than $700. Developmenteconomics studies the economies of such countries and the problems they face, including poverty, chronic underemployment, low wages, rampant inflation, and oppressive international debt. In the past two decades, the international debt crisis, the rise ofendogenous growth theory, and the tremendous success of some Asian economies have generated renewed interest in development economics, and the field has grown and changed dramatically. Although Analytical Development Economics deals with theoretical development economics, it is closely grounded in reality. The author draws on a wide range of evidence, including some gathered by himself in the village of Nawadih in the state of Bihar, India, where--in huts and fields, and in...

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