Towards Human Development: New Approaches to Macroeconomics and Inequality

Published on 4 April 2014

You can purchase this book from here.

Human Development is widely recognised as the overriding goal of development, yet its realization is challenged by growing inequality, macro-economic fluctuations, and recurrent financial crises.

This edited collection reflects on the work of Richard Jolly and includes contributions from leading scholars of development, all of whom have worked with Richard Jolly at varying points in his distinguished career.

The volume advances thinking in the area of Human Development by discussing the evolution of its conceptualization and the policy implications, and the achievements in related key areas such as education, social protection, and employment. It juxtaposes these theoretical and (at times) real life improvements with disturbing developments in terms of growing inequality and macro-economic instability.

It documents the growing income inequality which has characterized both developing and developed countries. It shows that there has been a decline in some countries and identifies the policies adopted in these exceptional cases. It also shows also where and how public expenditure on Human Development in developing countries has been affected by the 2008 financial crisis and presents a new framework for a pro-growth pro-Human Development macro-economics, including suggestions for the countercyclical regulation of financial flows.

The book also argues that a series of disruptive factors are nudging the innovation trajectory in new potentially pro-poor and pro-Human Development directions, especially if policies speed-up the diffusion of new efficient appropriate technologies in low and middle income economies

Readership: Scholars and students of economics, development economics, development studies, welfare, and political economy, as well as multilateral research and public policy institutions, agencies, and policy makers.

Table of contents

  • Preface
  • Human Development, Inequality, and Macroeconomics: An Overview of Progress and Unresolved Problems – Giovanni Andrea Cornia and Frances Stewart

Part I: Sir Richard Jolly’s Contribution to the Analysis of Economic Development

  • John Toye: The Achievements of an Optimistic Economist

Part II: Human Development and Inequality: Progress in Concepts and Policies?

  • Constructing New Policy Narratives: The Capability Approach as Normative Language – Séverine Deneulin
  • Human Development as the Dominant Paradigm: What Counts as Success? – Christopher Colclough
  • Social Protection: Consensus and Challenges – Ravi Kanbur
  • The Strange Neglect of Income Inequality in Economics and Public Policy? – Robert H. Wade
  • Justice, Horizontal Inequality, and Policy in Multi-Ethnic Societies – Frances Stewart
  • Employment, Poverty, and Development: Do We Have the Priorities Right? – Rolph van der Hoeven

Part III: Structural Adjustment, New Macroeconomic Approaches and Remaining Challenges

  • The New Structuralist Macroeconomics and Inequality – Giovanni Andrea Cornia
  • Trade, Exchange Rates, and Global Poverty: Policies for the Poorest – Gerry Helleiner
  • Human Development and Fiscal Policy: Comparing the Crises of 1982-85 and 2008-11 – Bruno Martorano, Giovanni Andrea Cornia, and Frances Stewart
  • Innovation for Pro-Poor Growth: From Redistribution with Growth to Redistribution through Growth – Raphael Kaplinsky
  • Helping Control Boom-Bust in  Finance through Countercyclical Regulation – Stephany Griffith Jones and José Antonio Ocampo


Richard Jolly

Research Associate

Publication details

Giovanni, A.C. and Stewart, F.
Giovanni, A.C. and Stewart, F.
978 0 19870 608 3


Related content