Albert O. Hirschman was born on April 7 of 1915 in Berlin, and death on December 10 of 2012. He was an economist and the author of several books on political economy and political ideology. His principal contribution was about the “development economies”.
He lived in Colombia from 1952 to 1956, and like result in his investigation in this country, He said in his book: “The strategy of economic development”.
What is the idea?
1.The underdevelopment is a situation of equilibrium in multiple vicious circles.
2.The challenge is to find mechanisms that induce a movement towards other circles that are virtuous and lead to a bottom-up process.
3.He was in favor of the “unbalanced growth”. This theory consider that is possible to accelerate the growing, first, stimulating the expansion of particular sectors, that after promote other sectors.
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