Development and Underdevelopment is a thought-provoking exploration of the economic challenges faced by underdeveloped nations and the intellectual journey required to understand and address them. Compiling studies conducted over a decade, the book critiques traditional economic theories, including classical, Keynesian, and Marxist thought, highlighting their limitations and contributions to the analysis of underdevelopment. The author emphasizes the necessity of integrating structural and historical approaches to economic analysis, offering insights into the unique dynamics that shape underdeveloped economies. By addressing specific growth mechanisms, industrial origins, and the socio-economic factors inhibiting progress, this work seeks to redefine the field of economic thought for a world grappling with persistent inequalities. Through a series of detailed chapters, the book examines the evolution of development theory, the mechanisms driving growth, and the historical context that underpins modern economic systems. It culminates in a focused discussion on the distinct challenges of underdevelopment, offering a roadmap for identifying structural factors and fostering effective economic planning. Written for a new generation of economists, policymakers, and thinkers, Development and Underdevelopment serves as both a critique and a call to action, urging innovative approaches to understand and transform the global economic landscape. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1964.