The political economy of growth

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the political economy of growth

The Political Economy of Growth by Paul A. Baran

This classic of contemporary Marxist economics provocatively tackles a problem crucial to all economists and social scientists - the conditions for economic progress. How, in short, does a society generate and utilize its economic surplus? From this viewpoint Professor Baran, one of the authors of Monopoly Capital, analyses the economic development of both advanced and developing countries and shows that neither can be understood unless their global interdependence is taken into account. Economic development has always entailed big changes in the social and political structure of society and Professor Baran explains the present turmoil in the world as the necessary accompaniment of processes as radical as the transition from feudalism to capitalism.
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Explaining Growth pp Cite as. This chapter examines the lessons of recent research on the political economy of growth in light of regional survey papers commissioned by the Global Research Project on Growth. We then review the existing evidence and assess the hypotheses put forward in those papers. In the last section, we present conclusions and offer suggestions for further research on critical issues in the political economy of growth that are not yet well-understood. The purpose of this exercise is to assess current findings and identify the theoretical and empirical work needed at the country and cross-country levels in order for the political economy of growth analysis to provide a deeper perspective on the process of growth. Unable to display preview.

Please take this quick survey to tell us about what happens after you publish a paper. Studies in Comparative International Development. Researchers suggest that societies characterized by high levels of political freedom are expected to exhibit significantly higher rates of economic growth than those in which civil liberties and political rights are abridged.
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The Political Economy of Growth: A Review

Attacking the bourgeois apologists, Baran deals with the complexities of present-day imperialist relations in the backward areas and the mechanisms regulating decadent monopoly capitalism in the advanced countries. Unfortunately, in his eagerness to meet the bourgeois apologists on their own ground. I for one wish that someone as skilled in both Marxist and bourgeois economics as Baran had kept this in mind. He outlines three types of economic surpluses: First, actual economic surplus really accumulated surplus value. Secondly, potential economic surplus accumulable surplus value which can be produced if the following are eliminated: a excess consumption by the middle and upper layers of society; b unproductive workers; c irrationality and waste in the economy; and d unemployment. Thirdly, planned economic surplus the surplus product of a nationalized and planned economy.

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