Economic Development in the Third World review

Michael Paul Todaro (born May 14, 1942) is an American economist and a pioneer in the field of development economics. Todaro earned a PhD in economics from Yale University in 1968 for a thesis titled The Urban Employment Problem in Less Developed Countries – An Analysis of Demand and Supply. Todaro was Professor of Economics at New York University for eighteen years and Senior Associate at the Population Council for thirty years. He lived and taught in Africa for six years. He appears in Who's Who in Economics and Economists of the Twentieth Century. He is also the author of eight books and more than fifty professional articles. In a special February 2011 centenary edition, the American Economic Review selected Todaro’s article “Migration, Unemployment and Development: A 2-Sector Analysis” (with John Harris) as one of the twenty most important articles published by that journal during the first one hundred years of its existence. He is the co-author of the widely used textbook, Economic Development, 12th Edition, published in 2014.

Economic Development in the Third World review by Michael Todaro

Retaining its distinctive, problem-centred approach, this fourth edition of a successful and now standard text emphasizes the application of theory to real problems which confront Third World policy makers. There are new sections on such issues as: the economic crisis in sub-Saharan Africa; the implications of privatization; the debate between free traders and protectionists; and the impact of the debt crisis. Additional theoretical diagrams have been included and all the statistics, tables and further reading lists have been revised.