The process of globalization, evidenced by environmental change, migration, industrial relations and the extraordinary acceleration of industrial economic relations, has not led to increased convergence in the global economy. Rather, in some cases it has been accompanied by greater divergence between the fortunes of the world's richest and poorest nations. Professor Sylos Labini offers a new approach to the theory of economic growth and reminds us of the great variety of economic trajectories in developing countries. He further proposes a strategy of institutional reform to respond to the problem of underdevelopment.