This book is a comprehensive account of development in a global context. It explains the contemporary realities and likely future of the developing world, and also explores the historical processes and economic dynamics which have led to this. Drawing on history, theory and a wide variety of case studies, the book: explains how and why existing perspectives on development have failed to illuminate the nature of development and underdevelopment provides a deeper social and historical background than most development texts examines the growth of development within the context of the globalization of capitalism uses a wide variety of examples from Asia, the Middle East, Africa and Latin America posits a new theory of development based on horizontal rather than hierarchical principles. Wide-ranging and provocative, this is required reading for advanced level students and scholars in development studies, economics and political science.