Market, Capitalism and Development:Development Theory in the Light of Braudel

Abstract

In “Civilisation and Capitalism” Fernand Braudel made one of the most comprehensive analysis of all times on the emergence of capitalism. Yet, he did not explicitly discuss the relevance of his analysis to the efforts to “build” capitalism. Starting with the assumption that Braudel’s work has important implications for develop‐ment efforts, this work tries to figure out those implications for contemporary development efforts. While doing this, we take the “Develop‐mental State Theory” as reference point which we believe to have a considerable explanatory power on the deliberative and succesful efforts of catching‐up in the post‐war era.