In the last few decades interest in development economics has been revived by several factors, including the remarkable growth of some developing economies, the massive international debt buildup of others, new research findings in endogenous growth, and the emergence of the theory of agrarian organization. What has also aided this revival is the awareness that, with the emergence of modern communications and the increased flow of goods, capital and even pollution across nations, it is no longer possible to think of developing economies as distant entities of little consequence to the industrialized world. Analytical Development Economics deals with theoretical issues in this important area of research and policy-making. The author draws on a wide range of evidence and anthropological insights, including his own field experience, to keep the theory grounded in reality. His use of simple algebra, supported with diagrammatic methods, make the arguments in the book widely accessible. The book is a revision of The Less Developed Economy: A Critique of Contemporary Theory. This new edition incorporates recent theoretical advances in its comprehensive, up-to-date treatment of the subject. It is intended primarily as a book for a one-semester graduate course, but will also be of interest to researchers in development and related disciplines, and to policy-makers.