International Relations
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Abstract
The conventional wisdom in the major international development agencies today is that government is largely responsible for the Third World's disappointing economic performance and that markets are the remedy for most of these problems. Even within the mainstream, however, there remains a healthy degree of skepticism about these neoclassical views, so the Overseas Development Council (ODC) in 1985 brought together several experts to review the current state of development strategy. Eight papers emerging from that conference are reproduced here, the fifth volume of ODCs series on United States-Third World policy perspectives. While none denies the importance of markets, each points out limitations in the laissez-faire paradigm for promoting development and reminds us that governmental and political factors are also critical.