Erik S. Reinert
Encyclopedia
Erik Steenfeldt Reinert is a Norwegian
economist, with development economics and economic history as his specialties.
, attended the University of St. Gallen
in Switzerland
(where he studied economics), Harvard University
(MBA), and Cornell University
(Ph.D.
). Already during his studies, he spent time in Latin America
, working with a community development project in the Peru
vian Andes
, as well as in private industry. In 1972 he founded and later developed a small industrial firm (color sampling to the paint and automotive industries) in Bergamo
, Italy
. Adding production plants also in Norway and Finland, the company had become the largest of its kind in Europe when Reinert sold it in 1991.
Reinert then worked for the STEP group in Oslo (1991–1995) and later became Director of Research of the Norsk Investorforum, a think tank
set up by large Norwegian corporations (1995–2000). He also held a part-time position at The Centre for Development and the Environment (SUM), a research institution established by the University of Oslo
. In 2000, he became the Executive Chairman of The Other Canon Foundation, a small center and network for heterodox economics
research. Since 2004, he is Professor of Technology Governance
and Development Strategies at the Tallinn University of Technology
in Tallinn
, Estonia
. Since 2005, he also serves as Senior Research Fellow at, the new Oslo-based Norwegian Institute for Strategic Studies
. He lectures in five languages.
Reinert’s research interests and publications focus around the theory of uneven development and the history of economic thought and policy. As a consultant, Reinert's emphasis is on industrial and economic policy, the preconditions and management of innovations, and the relations between financial and production capital.
Reinert’s ideas are controversial in libertarian
and neo-liberal circles in Norway, but also in Marxist ones. Representatives of those views, accordingly, have challenged his arguments in the daily press and sparked a controversy about national economic development in Norway. His most recent English-language book, How Rich Countries Got Rich ... and Why Poor Countries Stay Poor (2007), has had a similarly discussion-raising effect internationally, as it has been widely noted, reviewed, and discussed as well. While only one review, in Prospect Magazine, was dismissive. many – including those from the developing countries – were positive and even those in publications generally opposed to Reinert’s framework, such as by Martin Wolf
in the Financial Times
, have been critical yet called the book an important contribution to the debate. In 2008 Reinert received the annual Gunnar Myrdal
Prize as best monograph in evolutionary political economy, and in 2010 he was the only Norwegian economist invited to the Cambridge opening conference of the Institute for New Economic Thinking, financed by George Soros
.
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
economist, with development economics and economic history as his specialties.
Biography
Reinert was born in OsloOslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...
, attended the University of St. Gallen
University of St. Gallen
The University of St. Gallen is a public research university located in St. Gallen, Switzerland. It is specialized in the fields of business administration, economics, law, and international affairs. The University of St. Gallen is also known as HSG, which is an abbreviation of its former German...
in Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
(where he studied economics), Harvard University
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
(MBA), and Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
(Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
). Already during his studies, he spent time in Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, working with a community development project in the Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
vian Andes
Andes
The Andes is the world's longest continental mountain range. It is a continual range of highlands along the western coast of South America. This range is about long, about to wide , and of an average height of about .Along its length, the Andes is split into several ranges, which are separated...
, as well as in private industry. In 1972 he founded and later developed a small industrial firm (color sampling to the paint and automotive industries) in Bergamo
Bergamo
Bergamo is a town and comune in Lombardy, Italy, about 40 km northeast of Milan. The comune is home to over 120,000 inhabitants. It is served by the Orio al Serio Airport, which also serves the Province of Bergamo, and to a lesser extent the metropolitan area of Milan...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
. Adding production plants also in Norway and Finland, the company had become the largest of its kind in Europe when Reinert sold it in 1991.
Reinert then worked for the STEP group in Oslo (1991–1995) and later became Director of Research of the Norsk Investorforum, a think tank
Think tank
A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...
set up by large Norwegian corporations (1995–2000). He also held a part-time position at The Centre for Development and the Environment (SUM), a research institution established by the University of Oslo
University of Oslo
The University of Oslo , formerly The Royal Frederick University , is the oldest and largest university in Norway, situated in the Norwegian capital of Oslo. The university was founded in 1811 and was modelled after the recently established University of Berlin...
. In 2000, he became the Executive Chairman of The Other Canon Foundation, a small center and network for heterodox economics
Heterodox economics
"Heterodox economics" refers to approaches or to schools of economic thought that are considered outside of "mainstream economics". Mainstream economists sometimes assert that it has little or no influence on the vast majority of academic economists in the English speaking world. "Mainstream...
research. Since 2004, he is Professor of Technology Governance
Technology governance
Technology governance means the governance, i.e., the steering between the different sectors — state, business, and NGOs — of the development of technology. The concept is based on the notion of innovation and of techno-economic paradigm shifts according to the theories of Joseph A...
and Development Strategies at the Tallinn University of Technology
Tallinn University of Technology
Tallinn University of Technology is the only university of technology in Estonia, and one of the three most important institutions of higher education in Estonia generally. It is located in the capital city of Tallinn, Estonia...
in Tallinn
Tallinn
Tallinn is the capital and largest city of Estonia. It occupies an area of with a population of 414,940. It is situated on the northern coast of the country, on the banks of the Gulf of Finland, south of Helsinki, east of Stockholm and west of Saint Petersburg. Tallinn's Old Town is in the list...
, Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
. Since 2005, he also serves as Senior Research Fellow at, the new Oslo-based Norwegian Institute for Strategic Studies
Norwegian Institute for Strategic Studies
The Norwegian Institute for Strategic Studies is a strategic studies research institute based in Oslo, Norway.It was established as an independent institution on 1 January 2006. Structurally, it was organized as a "stiftelse" from the start, but was transformed into an "aksjeselskap" in 2009...
. He lectures in five languages.
Reinert’s research interests and publications focus around the theory of uneven development and the history of economic thought and policy. As a consultant, Reinert's emphasis is on industrial and economic policy, the preconditions and management of innovations, and the relations between financial and production capital.
Reinert’s ideas are controversial in libertarian
Libertarianism
Libertarianism, in the strictest sense, is the political philosophy that holds individual liberty as the basic moral principle of society. In the broadest sense, it is any political philosophy which approximates this view...
and neo-liberal circles in Norway, but also in Marxist ones. Representatives of those views, accordingly, have challenged his arguments in the daily press and sparked a controversy about national economic development in Norway. His most recent English-language book, How Rich Countries Got Rich ... and Why Poor Countries Stay Poor (2007), has had a similarly discussion-raising effect internationally, as it has been widely noted, reviewed, and discussed as well. While only one review, in Prospect Magazine, was dismissive. many – including those from the developing countries – were positive and even those in publications generally opposed to Reinert’s framework, such as by Martin Wolf
Martin Wolf
Martin Wolf, CBE is a British journalist, widely considered to be one of the world's most influential writers on economics. He is associate editor and chief economics commentator at the Financial Times.-Early life:...
in the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
, have been critical yet called the book an important contribution to the debate. In 2008 Reinert received the annual Gunnar Myrdal
Gunnar Myrdal
Karl Gunnar Myrdal was a Swedish Nobel Laureate economist, sociologist, and politician. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the...
Prize as best monograph in evolutionary political economy, and in 2010 he was the only Norwegian economist invited to the Cambridge opening conference of the Institute for New Economic Thinking, financed by George Soros
George Soros
George Soros is a Hungarian-American business magnate, investor, philosopher, and philanthropist. He is the chairman of Soros Fund Management. Soros supports progressive-liberal causes...
.
Selected publications
- Techno-Economic Paradigms: Essays in Honour of Carlota Perez (2009), co-ed. London: Anthem.
- How Rich Countries Got Rich ... and Why Poor Countries Stay Poor (2007), London: Constable.
- The Origins of Economic Development. How Schools of Economic Thought have Addressed Development (2005), co-edited with KS Jomo. London: Zed / New Delhi: Tulika.
- Global Økonomi. Hvordan de rike ble rike og hvorfor fattige blir fattigere (Global Economy. How the rich got rich and why the poor get poorer) (2004). Oslo: Spartacus. Serbian translation (2006) Belgrade: Cigoja.
- Globalization, Economic Development and Inequality: An Alternative Perspective (2004), ed. Cheltenham: Edward Elgar.
- Ragnar Nurkse (1907–2007): Classical Development Economics and its Relevance for Today (2009), co-ed. London: Anthem.
- Ragnar Nurkse: Trade and Development (2009), co-ed. London: Anthem.
Downloadable recent working papers
- "Development and Social Goals: Balancing Aid and Development to Prevent 'Welfare Colonialism'", United Nation Department of Economic and Social Affairs, DESA Working Paper No. 14, 2006. Portuguese translation in Oikos. Revista de Economia Heterodoxa 4(4), 2005, pp. 45–67. Download.
- "Evolutionary Economics, Classical Development Economics, and the History of Economic Policy: A Plea for Theorizing by Inclusion" (2006). Download.
- "The Qualitative Shift in European Integration: Towards Permanent Wage Pressures and a ‘Latin-Americanization’ of Europe?" (with Rainer Kattel), PRAXIS Working Paper No. 17/2004. Download.
- "The Terrible Simplifers: Common Origins of Financial Crises and Persistent Poverty in Economic Theory and the new ‘1848 Moment’" (2009). Download.