Ragnar Nurkse (1907-2007): Classical Development Economics and Its Modern Relevance - Anthem Other Canon Economics Series | Essential Reading for Economics Students and Development Policy Researchers

A great book that revives the work of one of the best development economists. A "must" for students of economy in developing countries.One of the main passages is already in chapter one, arguing capital is made at home, and its skeptisim to rely on foreing investment to fund development: "large parts of such financing (FDI) would seek to utilize poor countries resources and eventually lock these countries into undiversified economies with a skewed social structure; (Nurkse 1961, 100, 137, 144, 248) and second, there is clear danger that significant amounts of foreign financing would end up funding private consumption patterns emulating Western living standards and thus creating balance of payments problems"