Albert O. Hirschman Biography

Albert Otto Hirschman was an economist and author whose contributions spanned political economy and ideology. His early work in development economics championed the concept of unbalanced growth, arguing that disequilibria should be encouraged to stimulate resource mobilization, especially in developing nations lacking decision-making expertise. He advocated for fostering industries with strong inter-firm linkages. Later, he explored political economy through two influential frameworks: the first, presented in "Exit, Voice, and Loyalty," outlined the fundamental responses to decline (quitting, speaking up, or remaining loyal); the second, in "The Rhetoric of Reaction," dissected the common arguments used by conservatives against social progress.