Abstract
Economies, whether traditional or modern, experience change within the system as well as change of the system. In contrast to the former which does not alter the nature (structure) of the established system, the latter alters the nature (structure) of the established system. Compared with the latter, the former is far more frequent and, if unchecked, its cumulative effect can result in systemic change.
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Notes
R. Kanbur and J. Mcintosh, ‘Dual Economies’, in John Eatwell, Murray Milgate, and Peter Newman (eds), Economic Development, London, Macmillan, 1991 (reprinted), pp. 114ff.
Angus Maddison, Phases of Capitalist Development, Oxford, Oxford University Press, 1982, Chapter 1.
W.W. Rostow, The Stages of Economic Growth: A Non- Communist Manifesto, Cambridge, Cambridge University Press, 1960 (reprinted).
Raymond Aron, Main Currents in Sociological Thought: Vol.1, Harmondsworth, Penguin, 1969 (reprinted), pp. 118–25
Ernest Gellner, ‘Economic Interpretation of History’, in John Eatwell, Murray Milgate, and Peter Newman (eds), Marxian Economics, London, Macmillan, 1990, pp. 148ff
Stephen K. Sanderson, Social Transformations: A General Theory of Historical Development, Oxford, Blackwell, 1995, pp. 8–9 and 389–91.
Angus Maddison, Dynamic Forces in Capitalist Development: A Long-Run Comparative View, Oxford, Oxford University Press, 1991, p. 26.
See e.g. David Drakakis-Smith, ‘Less Developed Economies and Dependence’, in P.W Daniels and WF. Lever (eds), The Global Economy in Transition, London, Longman, 1996, Chapter 11.
Keith Griffin, Alternative Strategies for Economic Development, Basingstoke, Macmillan, 1989.
Anne O. Krueger, Political Economy of Policy Reform in Developing Countries, London, The MIT Press, 1993.
Cf. Robert Skidelsky, The World After Communism, London, Macmillan, 1995, pp. 124–7.
Pam Woodall, ‘The World Economy’, The Economist, 1 October 1995, Survey.
On the relationship between political and economic systems see also Leszek Balcerowicz, Socialism, Capitalism, Transformation, Budapest, Central European University Press, 1995, Chapter 8.
Felipe Fernández-Armesto, Millennium, London, Bantam Press, 1995, p. 707.
On the role of technology and technological innovation in the life of human societies see also Gerhard Lenski and Jean Lenski, Human Societies: An Introduction to Macrosociology, New York, McGraw-Hill Book Company, 1989 (fifth edition), pp. 92–3.
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© 1998 J. L. Porket
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Porket, J.L. (1998). Economic Transformation. In: Modern Economic Systems and their Transformation. St Antony’s Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26696-8_11
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DOI: https://doi.org/10.1007/978-1-349-26696-8_11
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