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Our objective in this 5th edition is to combine what we believe is the best material from the previous editions, focused on fundamental problems and appropriate policies, with the most important of the emerging new issues, analyses, and information. To that end, the following are some of the key new features of the text: A new chapter (10) on the environment and development analyzes the links between the environment and development problems including poverty, population, urbanization, agriculture, and imbalances in the global economy. The chapter also includes an analysis of the economics of common property resources, the pricing of public goods (and bads), and the environmental externalities of private market activities - all set within the context of real-world development situations. A set of 18 country case studies of individual develping economies - one at the end of each chapter - provide two- to three-page descriptive analyses of the major economic features and critical problems faced by leading Third World nations. Included are case studies of countries such as Brazil, India, Nigeria, Mexico, Kenya, China the Philippines, and South Korea. The purpose of each country profile is to familizarize students with the basic economic features of important develpoing economies and thus provide them with the kind of applied material that was often absent from earlier editions. Furthermore, each country case study is chosen to reflect and illustrate the specific problem and analyzed in the chapter to which it is appended - for example, China for population, Bangladesh for poverty. In addition ot the 18 country case studies are four new comparative case studies, one appearing at the end of each of the four parts of the text. Each of these comparative studies applies thee material appearing in that part of the book to two developing countries, one relatively successful and the other less so in dealing with one or more of the critical issues of problem areas discussed in the preceding chapters. An entirely new Chapter on critical issues for the 1990s includes discussions of the global environmental debate emanating form the 1992 Rio de Janeiro Earth Summit. Extensive new analyses and discussions of the issue of women and development are featured. Sections on the special problems faced by women are strategically placed in chapters on poverty, population, urbanization, education, agriculture and the environment. Many new sections discussing topics not covered (or only touched on) in earlier editions have been interspersed throughout the 18 chapters of the book. These include sections on these topics: The New Growth Theory; The United Nations Development Program's new Human Development Index; Sharecropping and interlocking factor markets in the agricultural economy; Macroeconomic instability and the role, limitations, and results to date of International Monetary Fund stabilization and World Bank structural adjustment policies, including a brief history of both organizations in Appendix 13.1; the future of the debt problem and how the burden of adjustment has been shouldered by lenders and borrowers; the implications of emerging new regional trading blocs and the globalization of trade and finance; the tranformation of multinational corporations into global factories and what this might mean for Third World economics. Almost every table and figure has been revised. In addition, there are over 40 new tables and figures for both retained and newly written chapters. Whre relevant, new analytical techniques have been combined with recent statistical information in the formulation of relevant policy alternatives designed to ameliorate the problems discussed in each chapter. The Further Reading section at the end of each chapter has been updated to reflect recently published and readily accessible books and articles. The Concepts for Review and Questions for Discussion sections at the end of each chapter have been revised