Celso Furtado - The Myth of Economic Development

1 Series title Series title Critical South The publication of this series is supported by the International Consortium of Critical Theory Programs funded by the Andrew W. Mellon Foundation. Series editors: Natalia Brizuela and Leticia Sabsay Leonor Arfuch, Memory and Autobiography Aimé Césaire, Resolutely Black Silvia Rivera Cusicanqui, Ch’ixinakax Utxiwa Bolívar Echeverría, Modernity and “Whiteness” Celso Furtado, The Myth of Economic Development Eduardo Grüner, The Haitian Revolution María Pia López, Not One Less Pablo Oyarzun, Doing Justice Néstor Perlongher, Plebeian Prose Nelly Richard, Eruptions of Memory Tendayi Sithole, The Black Register

2 Title page The Myth of Economic Development Celso Furtado Translated by Jordan B. Jones polity

3 Copyright page Copyright page Originally published in Portuguese as O mito do desenvolvimento econômico © André Tosi Furtado and Mario Tosi Furtado This English edition © 2020 by Polity Press Polity Press 65 Bridge Street Cambridge CB2 1UR, UK Polity Press 101 Station Landing Suite 300 Medford, MA 02155, USA All rights reserved. Except for the quotation of short passages for the purpose of criticism and review, no part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. ISBN-13: 978-1-5095-4013-6 ISBN-13: 978-1-5095-4014-3 (paperback) Cover image: Sandra Cinto Untitled (from the series By Chance and Necessity) (detail) 2015 Permanent pen and acrylic on canvas 78 3/4 x 59 inches; 198.1 x 149.9 cm Courtesy the artist and Tanya Bonakdar Gallery, New York / Los Angeles A catalogue record for this book is available from the British Library. Typeset in 10.5 on 12.5pt Sabon by Fakenham Prepress Solutions, Fakenham, Norfolk NR21 8NL Printed and bound in Great Britain by TJ International Limited The publisher has used its best endeavours to ensure that the URLs for external websites referred to in this book are correct and active at the time of going to press. However, the publisher has no responsibility for the websites and can make no guarantee that a site will remain live or that the content is or will remain appropriate. Every effort has been made to trace all copyright holders, but if any have been overlooked the publisher will be pleased to include any necessary credits in any subsequent reprint or edition. For further information on Polity, visit our website: politybooks.com

4 Introduction – Ndongo Samba Sylla Limits to Growth A structuralist reading of LTG An enduring myth References

5 1 The Prophecy of Collapse Notes

6 2 The Structural Evolution of the Capitalist System Notes

7 3 Large Companies in New Center–Periphery Relations Notes

8 4 Options for Peripheral Countries Notes

9 5 The Myth of Economic Development

10 Index

11 End User License Agreement

1 Cover

2 Contents

3 1 The Prophecy of Collapse

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The publication of this series is supported by the International Consortium of Critical Theory Programs funded by the Andrew W. Mellon Foundation.

Series editors: Natalia Brizuela and Leticia Sabsay

Leonor Arfuch, Memory and Autobiography

Aimé Césaire, Resolutely Black

Silvia Rivera Cusicanqui, Ch’ixinakax Utxiwa

Bolívar Echeverría, Modernity and “Whiteness”

Celso Furtado, The Myth of Economic Development

Eduardo Grüner, The Haitian Revolution

María Pia López, Not One Less

Pablo Oyarzun, Doing Justice

Néstor Perlongher, Plebeian Prose

Nelly Richard, Eruptions of Memory

Tendayi Sithole, The Black Register

Celso Furtado

Translated by Jordan B. Jones

polity

Originally published in Portuguese as O mito do desenvolvimento econômico © André Tosi Furtado and Mario Tosi Furtado

This English edition © 2020 by Polity Press

Polity Press

65 Bridge Street

Cambridge CB2 1UR, UK

Polity Press

101 Station Landing

Suite 300

Medford, MA 02155, USA

All rights reserved. Except for the quotation of short passages for the purpose of criticism and review, no part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher.

ISBN-13: 978-1-5095-4013-6

ISBN-13: 978-1-5095-4014-3 (paperback)

Cover image:

Sandra Cinto

Untitled (from the series By Chance and Necessity) (detail)

2015

Permanent pen and acrylic on canvas

78 3/4 x 59 inches; 198.1 x 149.9 cm

Courtesy the artist and Tanya Bonakdar Gallery, New York / Los Angeles

A catalogue record for this book is available from the British Library.

Typeset in 10.5 on 12.5pt Sabon

by Fakenham Prepress Solutions, Fakenham, Norfolk NR21 8NL

Printed and bound in Great Britain by TJ International Limited

The publisher has used its best endeavours to ensure that the URLs for external websites referred to in this book are correct and active at the time of going to press. However, the publisher has no responsibility for the websites and can make no guarantee that a site will remain live or that the content is or will remain appropriate.

Every effort has been made to trace all copyright holders, but if any have been overlooked the publisher will be pleased to include any necessary credits in any subsequent reprint or edition.

For further information on Polity, visit our website: politybooks.com

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