Volume 24, Issue 6, September 2019, Page 666-668.

Volume 25, Issue 5, August 2020, Page 608-609.

Take two concepts, both appealing, but each elusive and difficult to define, and you have the recipe for a challenging volume. Simone Raudino and Arlo Poletti have risen to the challenge, and the r...

Maurice Scott, an outstanding economics scholar associated for most of his career with Nuffield College Oxford, was involved in the revolution in economic thought of the 1960s and 1970s. His major work, A New View of Economic Growth, was coolly received. Scott, who wrote an autobiography, My Life, and a philosophical study entitled Peter's Journey: A Search for the True Purpose of Life, was elected Fellow of the British Academy in 1990. Obituary by Christopher Bliss FBA.

Combining the fields of international trade theory, economic development, and economic growth, this text provides an advanced exposition suitable for graduate students as well as researchers at all levels. It combines mathematical rigour with an exceptional breadth of approaches, including institutions, history, and comparative economics. Existing research is exposited and evaluated, and numerous new results are included. The central themes of economic inequality, within and between nations, are discussed, as is convergence, or the reduction of inequality. Distinctive features of the (...) volume include a radical re-evaluation of the theoretical basis of the economic convergence model proposed by Barro and Sala-i-Martin, a new generalization of the standard HOS model, and a new concept, the economic environment, designed to model the effects of institutions in a more analytical and micro-founded manner is discussed. Uniquely, the real world examples included focus not only on countries participating fully in globalized trade, like China, but also those countries and regions failing to fully participate, specifically the Arab world and sub-Saharan Africa. The text concludes with a discussion of current issues in world economic governance, particularly the IMF and limitations of the Washington consensus, showing that some criticism fails to confront fundamental difficulties. (shrink)