This book is a sequel to The Nature of Economic
Growth: An Alternative Framework for Understanding
the Performance of Nations which was published in
2002. It covers some of the same ground, but it is
broader in scope and contains much more empirical
evidence to support the view that the economic
structure of countries and constraints on
demand in an open economy matter for the economic
performance of nations, and this continues
to challenge the orthodox neoclassical approach
to the analysis of economic growth which uses an
aggregate production function (ignoring the structure
of production) and tries to ‘explain’ growth
in terms of exogenous increases in factor supplies
(labour and capital) and technical progress
without reference to demand or the balance of
payments.