This journey to find a more balanced development strategy is not an attempt to
abandon economic theory and principles contained in the body of knowledge known
as Development Economics. On the contrary, we should look at the latest situation in
the field of development economics. In May 1999, the World Bank and the University
of Zagreb held an international symposium on the “The Future of Development
Economics” in Dobrovnik out of which a book edited by Professor Gerald Meier and
Professor Joseph Stiglitz with the title “Frontiers of Development Economics-the
Future in Perspective” was published in 2001.20 Many leading development
economists and Nobel laureates contributed to this publication.