Productivity and structural change: structuralism and its dialogue with other hertodox currents

Two main tributes may be paid to the greats of economic thinking: that they were the first to conceive or systematically present ideas that were ahead of their time, but were corroborated in subsequent years; or that they set forth a research agenda that remains influential to this day. Authors such as Prebisch, Furtado and Fajnzylber deserve both accolades, notwithstanding that some economists may not be fully aware of the extent of their contribution to development theory. This chapter hails the structuralist tradition in another way: by combining it with other currents of thought and seeking points of convergence and cross-fertilization. Where authors and schools are able to identify the key aspects of an economy’s performance, their ideas tend to be complementary and harmonious; the ease with which their ideas dovetail is a consequence of their depth and relevance.

Related Subject(s): Economic and Social Development