Paul N. Rosenstein-Rodan 1902 - 1985
Rosenstein-Rodan was born in Poland and trained in the Austrian tradition of economics at Vienna. His early contributions were in pure economic theory -on marginal utility, hierarchical structures of wants and the issue of time. He emigrated to Britain in 1930, and taught at the University College London (UCL) and then the London School of Economics until 1947. He then moved to the World Bank, before moving on to the Massachusetts Institute of Technology (MIT) in the United States where he was a professor from 1952 to 1968. He subsequently moved to Texas and Boston University.
Rosenstein-Rodan's famous 1943 article 'Problems of Industrialisation of Eastern and South-Eastern Europe' argued that given increasing returns to scale, government-induced industrialisation was possible. Credited with having initiated the theory of economic development, Rosenstein-Rodan's future work exhibited his continued concern with this issue.
His publications include:
- The Role of Time in Economic Theory(1934)
- A Co-ordination of the Theories of Money and Price(1936)
- Disguised Underemployment and Under-employment in Agriculture (1956)
- The New International Economic Order (1981)