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Albert Hirschman considered <i>Development Projects Observed</i> a natural sequel to his earlier work. As Hirschman put it to an old acquaintance at the World Bank, his previous books identified the inner and often hidden mechanisms of development sequences: “Having worked out a few basic hypotheses …, I could perhaps test them (and hit on some new ones) by looking at Bank-financed projects that have had enough time to give rise to such sequences.”¹ But as much as it appeared as the logical evolution of Hirschman’s intellectual trajectory, this new research was also the offshoot of an important crisis in development