Broad strokes towards a grand theory in the analysis of sustainable development: a return to the classical political economy

Abstract

ABSTRACT This article aims to provide some broad strokes towards an analytical and methodological framework for the analysis of sustainable development. This is done by calling sustainable development's scholars to return to the multilayered legacy of the classical political economy and conceive sustainable development in both historical and transhistorical terms. It is argued that a return to the tradition of the classical political economy, through the lens of Smith’s, Mill’s and Marx’s stage theories of development, provides a powerful theoretical framework able to contextualise, develop and integrate the multiple, diverse, and middle-range contemporary strands in development studies. The classical political economy provides an analytical backbone of certain elements, including the important role of history, the necessity of an interdisciplinary approach, and the analytical priority of social classes that could be critical in enriching sustainable development studies. Students and scholars of international development would benefit from this worthwhile exercise that distinguishes in a succinctly and methodically manner between the current state of development studies and classical political economy perspectives on economic development.