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.
Preface
1. 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
2. The Achievements of an Optimistic Economist, John Toye
Part II: Human Development and Inequality: Progress in Concepts and Policies?
3. Constructing New Policy Narratives: The Capability Approach as Normative Language, Severine Deneulin
4. Human Development as the Dominant Paradigm: What Counts as Success?, Christopher Colclough
5. Social Protection: Consensus and Challenges, Ravi Kanbur
6. The Strange Neglect of Income Inequality in Economics and Public Policy?, Robert H. Wade
7. Justice, Horizontal Inequality, and Policy in Multi-Ethnic Societies, Frances Stewart
8. Employment, Poverty, and Development: Do We Have the Priorities Right?, Rolph van der Hoeven
Part III: Structural Adjustment, New Macroeconomic Approaches and Remaining Challenges
9. The New Structuralist Macroeconomics and Inequality, Giovanni Andrea Cornia
10. Trade, Exchange Rates, and Global Poverty: Policies for the Poorest, Gerry Helleiner
11. Human Development and Fiscal Policy: Comparing the Crises of 1982-85 and 2008-11, Bruno Martorano, Giovanni Andrea Cornia, and Frances Stewart
12. Innovation for Pro-Poor Growth: From Redistribution with Growth to Redistribution through Growth, Raphael Kaplinsky
13. Helping Control Boom-Bust in Finance through Countercyclical Regulation, Stephany Griffith Jones and Jose Antonio Ocampo
