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The Political Economy of the World BankThe Early Years$
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Michele Alacevich

Print publication date: 2009

Print ISBN-13: 9780804760652

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804760652.001.0001

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Economic Development in Theory and Practice

Economic Development in Theory and Practice

(p.64) Chapter Three Economic Development in Theory and Practice
The Political Economy of the World Bank
Stanford University Press

This chapter explores the tensions between the World Bank and head of Colombian mission Lauchlin Currie, and between him and economist Albert Hirschman, who replaced Currie as the Bank's envoy to Colombia. It suggests that the main conflict between Currie and Hirschman was that they represented two different approaches to the issues of economic development. The chapter analyzes the debates that raged within development economics during this time and examines Hirschman's account of his Colombian experiences in The Strategy of Economic Development.

Keywords:   World Bank, Lauchlin Currie, Albert Hirschman, economic development, development economics

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