The remarkable growth of several developing Asian economies amidst growing international debt, new research reports on endogenous growth, and the emergence of agrarian organization theory has revived the interest in development economics. Moreover, the advent of modern communications, and the increased flow of goods and capital across countries have changed the way we think about developing economies. These economies are no longer distant entities of little importance to the highly industrialized world.\nAnalytical Development Economics: The Less Developed Economy focuses on theoretical problems in this vital area of policymaking and research. The author has made ample use of his own field experience in the rural areas of Bihar, and has drawn on a broad range of anthropological insights and evidence, to ground the theory in reality. The book uses simple algebra, along with diagrammatic methods, in order to make the arguments presented in it widely accessible.\nThe book serves as a comprehensive study of the economics of countries whose per capita incomes are less than $700, much below the average $15,000 of most industrialized nations. It also deals with the problems faced by these developing economies such as poverty, low wages, chronic underemployment, oppressive international debt, and rampant inflation. Analytical Development Economics: The Less Developed Economy is essentially an up-to-date revision of the author’s previous book The Less Developed Economy: A Critique of Contemporary Theory. The book is designed as a single-semester textbook for graduate courses, and can also be used as a handbook for researchers and policymakers.