Factors that promote or hinder development(1)

7,454 views

Published on

Published in: Economy & Finance, Technology
0 Comments
6 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
7,454
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
103
Comments
0
Likes
6
Embeds 0
No embeds

No notes for slide

Factors that promote or hinder development(1)

  1. 1.  Objective Define terms associated with the topic Evaluate economic modules Identify factors which hinders orpromote development Explain political ideologies in relation toissues of development.
  2. 2.  Political ideologies/popular movements Distribution of wealth, resources, incomegeneration Changing class boundaries Definition of Caribbean experience andidentity Natural and Man made disasters Impact of productive sector
  3. 3.  Politics has to do with the acquisition ofpower, allocation or resources, andadministration of public affairs. There are two broad areas that are part ofthe political consideration Political ideology Economic system pursued by thegovernment
  4. 4.  Determines how a government operates,expressed in a document of SupremeLaw, called a constitution that legitimizean authoritative, hierarchical structure. Ideology: a system of ideas or manner ofthinking characterized by a class ofpeople e.g. Communism, Socialism andCapitalism.
  5. 5.  Communism: a theory of a society where allproperty should be owned by thecommunity or state and labour organize forthe common good. Capitalism: a social system based on theprinciple of individual right. Socialism: a society characterized by equalaccess to resources for all individuals with amethod of compensation based on theamount of labour extended.
  6. 6.  Cuba- Communist Cayman, Montserrat and Bermuda –colonies of England Puerto Rico-Associated state of theUnited States Trinidad and Guyana- RepublicDemocracy Jamaica: Parliamentary/ConstitutinalMonarchy(Westminister WhitehallModel).
  7. 7.  Improving the standards of living of itspeople. Protecting their safety and maintaininglaw and order. Develop policies to achieve outlinedobjectives. (They determine thedevelopment plan)
  8. 8.  The effectiveness of the developmentplan is dependent on the relationshipbetween those who govern and thosewho are governed. If there is harmony and transparencythen it is likely that the plan will work.
  9. 9.  Governments around the world pursueTHREE main economic models; Central or Planned Economic System The Free Market system or market system Mixed Economic system
  10. 10.  Example Cuba, China and USSR Features The main industries are owed by thestate and the production of goods andservices The aims of policies are to benefit eachmember of the state guaranteeingthem a minimum standard of living. A full employment policy is persued ineducation, health and low cost housing
  11. 11.  It promotes no efficiency since competitionis not encouraged Limited choice in the availability of goodsand services. Due to central planning there is normallyshortage and overproduction, which is aclear waste of resources. Limited innovations and creativity sinceprivate ownership is not encouraged What to produce, how much and for whomis determined by the state.
  12. 12.  Jamaica, Grenada and Jamaicaexperimented with modified forms ofSocialism. Many needy programmeswere implemented but economicallythose programmes worsened, especiallywith the effects globalization and risingoil prices.
  13. 13.  Private individuals own most of theresources and are allowed to becreative. Government exist as a facilitator andmaintain law and order. The model is individualistic and offers littleprotection for the poor. The price mechanism or the forces ofsupply and demand determined theproduction of goods and services
  14. 14.  High levels of inequality and distribution ofincome. Without the government the large majorityare unable to access health, education,basic utilities such as electricity and runningwater Development under this system is difficult . Ifthe people is generally poor, the GNP mightbe high but for the majority very low. Theywill be unable to buy the goods andservices produced. This will affectproductivity.
  15. 15.  Government gets involve as a regulatorof the economy. Gov provides social services such as fire,police, defense, road health etc. High levels of employment Low inflation Stable exchange rates Positive balance of payments
  16. 16.  Control of pollution Consumer protection Critical infrastructure e.g. roads, bridges,water telecommunications are providedin joint ventures, government andprivate.
  17. 17.  1. Identify THREE economic modules. 2. State TWO countries which practicethe Mixed economy module. 3.What is Capitalism? 4.Identify one Caribbean county whichhave been influenced by Marxism. 5.What is the name of the leader of thiscountry?

×