One Economics, Many Recipes: Globalization, Institutions, and Economic Growth by Dani Rodrik

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Synopsis

"Dani Rodrik is a leader in applying rigorous economic analysis and informed common sense to the challenges of economic development. His knowledge, his sense of what we do and do not know, his important pointers to humility, pragmatism, and attention to context--all of these qualities permeate these excellent chapters. A book for academics and practitioners alike."--A. Michael Spence, Nobel Laureate in Economics, Stanford University"Maybe Tolstoy was right about happy and unhappy families, but the same rule of thumb does not apply to developing economies. The success stories are not all alike. There is no practical, universal formula for rapid economic growth. That is Dani Rodrik's central argument, and he develops it forcefully and convincingly with many examples. Best of all, he insists that the need for policies tailored to local circumstances is exactly what basic economic theory suggests. He may not be right about every single thing, but I think he is right about that."--Robert M. Solow, Nobel Laureate in Economics, Massachusetts Institute of Technology"One Economics, Many Recipes does for economic development what Julia Child did for French cooking. Child taught would-be cooks how to be excellent chefs. Dani Rodrik teaches economists and policy planners how to construct successful, sustainable development programs. He teaches and preaches the subtle correct practice of development economics."--George Akerlof, Nobel Laureate in Economics and Koshland Professor of Economics, University of California, Berkeley"Dani Rodrik is that rare beast, both fox and hedgehog: a first-rate economist who steeps himself in politics, technology, and history to come up with striking insights andoverarching principles for generating economic growth. Scholars and general readers alike will be swept along by the current of Rodrik's good-natured erudition--even those who do not share his faith in neoclassical economics. One Economics, Many Recipes is a landmark in post-Washington Consensus thinking."--Robert H. Wade, London School of Economics and Political Science, author of Governing the Market"Dani Rodrik's One Economics, Many Recipes is a deep and important book about the relative success of nations. It considers the substance of economic policies over their superficial form. Highly successful countries have leaders who respect economic principles but keenly observe how their country differs from others and are flexible and creative in applying these principles to their own circumstances."--Robert J. Shiller, Yale University, author of Irrational Exuberance and The New Financial Order"Although there are many articles and books on economic growth, this book is different because it proposes a new perspective that is likely to have a significant influence on academic economists as well as policymakers around the world. Dani Rodrik's new approach respects the fundamental economic principle of the market, but it also allows individual countries to formulate their own growth strategies based on their own local conditions."--Yingyi Qian, University of California, Berkeley"In this important book, we have an author (Dani Rodrik) whose views are eminently worth hearing and a subject (globalization) in constant need of hearing them. Rodrik has long been a passionate but nuanced thinker on the role of 'economic fundamentals' in shaping growth. He resolutely uses the tools and methods of economics even as he arrives at conclusions that often do not square with what orthodox economics might prescribe or want to hear."--Michael Woolcock, the World Bank

Biography

Dani Rodrik is professor of international political economy at the John F. Kennedy School of Government at Harvard University. He was the recipient of the inaugural Albert O. Hirschman Prize from the Social Sciences Research Council, and is the author of "Making Openness Work: The New Global Economy and the Developing Countries" and "Has Globalization Gone Too Far?"