Development and Underdevelopment in the History of Economic Thought

Developmental studies and the transition to democracy in Spain (1960-1978)

Trincado Estrella, Complutense University of Madrid
Gallego Elena, Complutense University of Madrid

The 1950s implied a change in Spanish economic thought. Many economists pleaded for liberalization and this lead to the Stabilization Plan in 1959 and to the entry in Bretton Woods Agreement. Developmental studies flourished, The opening of the economy produced good results leading to the introduction of liberal democracy in 1975, the Pactos de la Moncloa of 1977 and the Spanish Constitution of 1978. This presentation will study the influence of economics in politics, and viceversa, in the Spain of the 1960-1978 . As we will see, there was an influence of the economic advisors that guided the different economic policies of the first democratic government in Spain, but also an influence of the ideas of the economic press, the academia and the universities.


Keywords: Spanish development, Stabilization Plan, development, Spain, democracy

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