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      World Review of Political Economy

      Volume 1, Issue 1
       
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      UNEVEN DEVELOPMENT OF THE WORLD ECONOMY: FROM KRUCMANTO LENIN

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      Journal: World Review of Political Economy
      Publisher: Pluto Journals
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            Abstract

            The ongoing world economic crisis has revealed the fundamental weight shift of the global economy from the Western world to East Asia. In my understanding, this shift is due to the "uneven development" that Lenin defined in Imperialism, in which he also proved the validity of this historical law. In his theory, this kind of uneven development is the basic condition of the conflicts among capitalist countries. In this article, first, we review Krugman's model of "uneven development" between two countries, namely, South and North, because he said his model expresses Lenin's theory of "uneven development." Second, we show that he has misunderstood Lenin's theory and that Lenin's theory is more realistic than Krugman's. As we know, Paul Krugman won a Nobel Prize in 2008. In this sense, this article also reveals a critical problem of the Nobel Prize in economics.

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            Journal
            Journal ID (jstor): worlrevipoliecon
            Journal ID (doi): 10.2307/j50005553
            Title: World Review of Political Economy
            Publisher: Pluto Journals
            ISSN (Print): 2042891X
            Publication date (Print): 1 April 2010
            Volume: 1
            Issue: 1
            Pages: 51-69
            Article
            DOI: 10.2307/41931866
            SO-VID: 10ab7ca2-14a5-4a84-b2f6-c078bda1c618
            Copyright © © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2010
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            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

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            Related

            ScienceOpen disciplines: Political economics

            Notes

            1. Krugman (1991b)

            2. Barro (1991)

            3. Inada, Sekiguchi, and Shoda (1992)

            4. Krugman (1991b)

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