Joan Robinson shows how the economic mechanisms that produce wealth in the midst of growing misery can be understood. Her simple but penetrating analysis illuminates the problems of poverty, accumulation, industrialisation and trade, while exposing misleading conceptions of the Third World.

Joan Robinson shows how the economic mechanisms that produce wealth in the midst of growing misery can be understood. For this purpose she uses the classical theory of accumulation and the modern theory of international trade and finance. Her simple but penetrating analysis illuminates the problems of poverty, accumulation, industrialization and trade, while exposing misleading conceptions of the Third World. Throughout the book, general principles are demonstrated with particular examples, making those principles both clearer and more relevant. The book's conclusion is that the economic problems of the Third World remain rooted in deep-seated political conflicts of national and international interests.