Little red riding hood and the big bad wolf disguised granny, development and orthodox economics in the garb of neoinstitutionalism

Abstract

Thinking about development as a universally desirable goal has led to the construction of a debate about what is the fastest and most efficient way to achieve development, presented in the form of a dialectical tension between orthodox economics and heterodox economics. As result of the experience of industrialized countries has developed "recipes for development" considered universally valid and imposed on developing countries. Notwithstanding, the failure of these in the new territories has shown that development is not a homogeneous or objective process. Instead, experience in development and less developed countries and the current global economic crisis has shown that achieving development involves a combination of complex social phenomena, understandable only through interdisciplinarity, where institutions play the role of structure communicating between the various scientific disciplines.