Conventional wisdom has it that government management of the
economy is the means to transform a backward economy into a
dynamic, modern one. Yet, after decades of international aid
programs, development planning is today largely perceived as a
failure paralyzed by its own bureaucracy and inefficiency. Despite
billions of dollars of investment, development successes are few
and far between and waste and mismanagement abounds.
This book showcases a diverse range of development experiences
in order to ascertain the reasons for this quagmire. Case studies
of development planning in China, India, post-WWII Japan, South
Korea, Africa, and Eastern Europe, and of foreign aid programs
(including the Marshall Plan) illustrate the insights an Austrian
approach provides toward an understanding of the failure of
government development planning. While economists working within
the Austrian tradition have previously addressed development
issues, this volume represents the first full-length treatment of
the subject from a modern market process perspective. Exploding the
hegemony of the traditional development paradigm, The Collapse of
Development Planning addresses one of the most pressing issues of
international political economy.
Contributing to the volume are: George Ayittey (American
University), Wayne T. Brough (Citizens for a Sound Economy,
Washington, DC), Young Back Choi (St. John's University), Steven
Hanke (Johns Hopkins University), Steve Horwitz (St. Lawrence
University), Shyam J. Kamath (California State University,
Hayward), Shigeto Naka (Hiroshima City University), David Osterfeld
(St. Joseph's College), Manisha Perera (University of Northern
Colorado), Jan S. Prybyla (Pennsylvania State University), Ralph
Raico (State University College, Buffalo), Parth Shah (University
of Michigan, Dearborn), Kurt Schuller (Johns Hopkins University),
Kiyokazu Tanaka (Sophia University, Tokyo), and Mark Thorton
(Auburn University).
General
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