Alternative strategies for economic development create great controversy and intense debate among practitioners and academics concerned with economic and social progress in the third world. The core of this book analyzes the six most widely adopted strategies of development, namely monetarism, the open economy, industrialization, the green revolution or agriculture-led development, redistributive strategies of development and socialist strategies. The strengths and weaknesses of each strategy are assessed and then compared. This book contains a blend of economic theory, statistical evidence and numerous country case studies. This second edition contains a new introduction in which the human development strategy, the transition strategies followed in the ex-socialist countries, and globalization and its effects on development are all discussed.