The global financial crisis of 2008-9 has changed the way people around the world think about development. The market-friendly, lightly regulated model of capitalism promoted by the United States is now at risk, and development thinking worldwide is at something of an impasse. Editors Nancy Birdsall and Francis Fukuyama bring together leading scholars to explore the implications of the global financial crisis on existing and future development strategies.

In addressing this issue, the contributors contemplate three central questions: What effect has the crisis had on current ideas in...