Economic Development and the Division of Labor

Economic Development and the Division of Labor

Editor(s): Xiaokai Yang

Published Online: 14 JAN 2008

Print ISBN: 9780631220039

Online ISBN: 9780470752036

DOI: 10.1002/9780470752036

About this Book

This innovative new text from Jeffrey Sachs and Xiokai Yang introduces students to development economics from the perspectives of inframarginal analysis and marginal analysis. The book demonstrates how the new-found emphasis on inframarginal analysis has influenced a shift back to an interest in Classical Economics from Neoclassical Economics.


  • Inframarginal Analysis vs. Marginal Analysis is presented as a consistent theoretical framework throughout.
  • Shows how the relationship of Inframarginal Analysis to Marginal Analysis has influenced the shift back to an interest in Classical Economics from Neoclassical Economics with regard to economic development.
  • Allows economists to reduce their overall reliance on marginal analysis, which may be less relevant to development economics than it is to the economics of development countries.
  • Brings considerable analytic machinery to bear on important problems.
  • A focus on institutions and transaction costs that is very relevant to development economics.
  • Offers a thorough analysis of trade (CHs. 3 - 7) and macroeconomics (CHs. 16 - 19), both of which are not dealth with in depth by comparable textbooks.

Table of contents

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  1. Part I: Geography and Microeconomic Mechanisms for Economic Development

  2. Part II: The Institution of the Firm, Endogenous Transaction Costs, and Economic Development

  3. Part III: Urbanization and Industrialization

  4. Part IV: Dynamic Mechanisms for Economic Development

  5. Part V: The Macroeconomics of Development

    1. You have free access to this content
    1. You have free access to this content

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