It would be a big boost to the new development economics if the
economics is blended in with the social, cultural, political and
institutional setting and environment, so that the possibilities for
change and development are clearly defined. In this respect, we need to interact with political science, sociology, anthropology, psychology, and the legal profession.
A corollary to this is that we shouldn’t fall into the neoclassical
trap of distinguishing markets with everything else, so that we become anti-market in the real sense of not wanting to improve the
commodities, labor and capital markets of Third World countries. Thus we see some of us resisting China’s or Vietnam’s use of better economic incentives on the grounds that they are “market” devices.