Knowra Albert O. Hirschman Albert O. Hirschman Albert O. Hirschman was a German-born American economist and social scientist whose work reshaped thinking about economic development, political change, and institutional responses to dissent.
Exit, Voice, and Loyalty : A framework describing how members respond to declining organizations through departure, protest, or continued allegiance. This book introduced his best-known account of how people respond to institutional decline.
Organizational decline : The deterioration of an organization’s performance, legitimacy, or ability to meet members’ needs. Exit and voice describe alternative responses when an organization begins to deteriorate.
Princeton University : A private research university in Princeton, New Jersey, founded in 1746. Hirschman spent much of his later academic career at its Institute for Advanced Study.
Balanced growth theory : A development strategy that coordinates investment across many sectors to expand demand and production together. Hirschman rejected its demanding coordination requirements in favor of sequential, imbalanced investment.
Economic Development : The process by which economies increase productivity, incomes, and material well-being. Hirschman challenged development strategies built on balanced, simultaneous growth.
Social movements : Sustained collective efforts to promote or resist social and political change. Voice offers a framework for understanding collective protest rather than individual departure.
Institute for Advanced Study : An independent research institution in Princeton, New Jersey, established in 1930. He joined its School of Social Science in 1974 and developed influential later work there.
Rational choice theory : An approach that models choices as consistent decisions by individuals pursuing preferences under constraints. His accounts gave greater weight to changing preferences, uncertainty, and unintended consequences.
Unbalanced Growth : A development strategy that deliberately creates imbalances to induce further investment and economic expansion. Hirschman argued that strategic shortages and pressures could mobilize development.
Import substitution industrialization : An industrialization strategy that replaces imported goods with domestically produced substitutes. Hirschman analyzed this strategy’s bottlenecks and the pressures that could stimulate local industry.
Show all 22