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"A reader in the history of economic thought challenges the assumption that today's prevailing economic theories are always the most appropriate ones. It examines the life and work of each of the founders of economics. It maps the various channels of continental economics, particularly from the late-18th through the early-20th centuries. "

"The Belgian Congo (Zaire, now the Democratic Republic of the Congo), the Netherlands Indies (Indonesia), and Taiwan/Formosa (now the Republic of China) experienced policies during the 19th and early 20th century which could be termed exploitative or extractive, although some policies in these colonies could also be termed developmental. All three colonies had a troubled passage to independence, and the immediate post-independence era was marked by considerable political and economic turmoil. But the growth performance of the three former colonies has been very different. Taiwan has seen very rapid growth sustained over decades; Indonesia's economic growth since 1970 has been quite robust; the Congo has seen a growth collapse which is extraordinary even by African standards. The paper suggests some explanations for this divergence in terms of policies pursued by the Japanese, Dutch and Belgian colonial regimes, and by postindependence governments in these countries."

"Brings together specially-commissioned chapters by leading authorities, rigorously edited to ensure systematic coverage. It provides students with an accessible and up-to-date thematically structured comparative introduction to Southeast Asia today."

"The book offers a radical departure from the conventional wisdom of economists and economic historians by showing that factor markets and the economies dominated by them, the market economies, are not modern, but existed at various times in the past. They are not always rising, but after some time they stagnate and decline again. They are not uniform, but consist of very different combinations of institutions embedded in very different societies. They create flexibility and high mobility in the exchange of land, labour, and capital, and initially they generate economic growth, although they also build on the growth already generated by these societies in the previous period using other exchange and allocation systems. The dynamism that results from the rise of factor markets leads to the rise of new market elites who accumulate land and capital and use wage labour extensively to make their wealth profitable. In the long run this creates social polarization and a decline of average welfare. As these new elites gradually translate their economic wealth into political leverage, it also creates institutional sclerosis, and makes these markets stagnate or decline again. This process is analysed for the three major, pre-industrial examples of successful market economies in western Eurasia: Iraq in the early Middle Ages, Italy in the high Middle Ages, and the Low Countries in the late Middle Ages and the early modern period, and more succinctly for England and the United States in the modern period."

"By any indicator, Indonesia, the fourth most populous nation on earth, is a development success story. Yet 20 years after a deep economic and political crisis, it is still in some respects an economy in transition. The country recovered from the 1997-98 crisis and navigated the path from authoritarian to democratic rule surprisingly quickly and smoothly. It survived the 2008-09 global financial crisis and the end of the China-driven commodity super boom in 2014 with little difficulty. It is now embarking on its fifth round of credible national elections in the democratic era. It is in the process of graduating to the upper middle-income ranks. But, as the 25 contributors to this comprehensive and compelling volume document, Indonesia also faces many daunting challenges -- how to achieve faster economic growth along with more attention to environment sustainability, how to achieve more equitable development outcomes, how to develop and nurture stronger institutional foundations, and much else. "This is a timely and much-needed book. There are very few recent books on Indonesia with such a comprehensive analysis of not just mainstream economic policies, but also most importantly the key issues of human capital, inequality, social welfare, labour, food security and natural resource management. This book will not only be crucial for policy discourse but for all stakeholders who care about Indonesia making the transition not only to a high-income economy, but an inclusive one."--Mari Pangestu, Faculty of Economics and Business, University of Indonesia "The Indonesian Economy in Transition: Policy Challenges in the Jokowi Era and Beyond is one of the most important books that discusses the Indonesian economy post-Asian Financial Crisis. A must-read for anyone who wants to understand contemporary Indonesian economy"