Reflecting on new developmentalism and classical developmentalism

Abstract

This paper, first, distinguishes new developmentalism (a new theoretical system that is being created) from ‘really existing’ developmentalism (a form of organizing capitalism). Second, it distinguishes new developmentalism from its antecedents, development economics or classical developmentalism and Keynesian macroeconomics. Third, it discusses the false opposition that some economists have adopted between new developmentalism and social-developmentalism, which the author understands as a form of really existing developmentalism; as theory, it is just a version of classical developmentalism with a bias toward immediate consumption. Finally, it makes a summary of new developmentalism – of its main political economy, economic theory, and economic policy claims.