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One of the most influential studies ever written in the field of development economics, this book has, since first publication in 1957, bred a whole school of followers who are producing further works along the lines indicated by Baran. Concerned with the generation and use of economic surplus, it analyzes from this point of view both the advanced and the underdeveloped countries. A work in political economy rather than solely in economics, this book treats the economic transformation of society as one facet of a total social and political evolution.
This exploration of the "economic underworld" and its treatment by orthodox economists has, at its core, a set of intellectual biographies of nine economic heretics ranging from Sir James Steuart in the 18th century to E.F.Schumacher in the 20th and covering a wide political spectrum.