The introduction of the Washington Consensus involved not simply a swing from state-led to market-oriented policies, but also a shift in the ways in which development problems were framed and in the types of explanation through which policies were justified. Key changes were the partial...

The argument of this paper is founded on an analytical perspective that can be summarized through three basic propositions. Firstly, the phenomenon of chronic poverty is best analysed through examination of the nature of poverty traps. Secondly, the causes of poverty can be identified at...