Alexander Gerschenkron

Alexander Gerschenkron was an economist known for his theory on how countries develop their industries. He believed that countries that industrialize later often do so differently—starting with less advanced technology and state support, and sometimes growing faster once they catch up. Unlike early industrializers, these latecomers can skip some stages and adopt newer methods. His ideas help explain why economic development varies among countries, emphasizing that timing, institutional context, and historical circumstances influence a nation's industrial progress.