This collection investigates the causal relationship between a nation's balance of payments position and its long-term economic growth trajectory. The authors, A. P. Thirlwall and John McCombie, are prominent figures in post-Keynesian economics who utilize empirical data and theoretical modeling to challenge neoclassical growth assumptions. They argue that for many countries, the growth rate is constrained by the necessity of maintaining external balance, effectively limiting the expansion of domestic demand.

Economists and students of international trade view this work as a foundational text for understanding the constraints on national economic expansion. Readers frequently note the technical density of the prose, which assumes a solid background in macroeconomic theory.