ABSTRACT
The industrialization that has been achieved in the Third World during the postwar period has occurred largely under the aegis of extensive state involvement in the economy. Now, however, the situation has changed: more free markets (and less state involvement) are trumpeted as the appropriate environment for new forms and higher levels of industrialization. What are the prospects for this new industrialization? Can it be successful? Is there space within the global capitalist environment for the Third World—or the Fourth or Fifth Worlds—to industrialize? If not, is there an alternative?
