The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
Endogenous rural development refers the development initiated by local people with their own resources, values, aspirations, knowledge, skill and organizations.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
Endogenous rural development refers the development initiated by local people with their own resources, values, aspirations, knowledge, skill and organizations.
Characteristics of underdeveloped economiesGeorgi Mathew
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In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
Post-Development Discourse And Alternatives to Development presented for the fulfillment of the course development sociology in Hawassa university, Ethiopia
Characteristics of underdeveloped economiesGeorgi Mathew
discussing the features of under developed or developing countries with special reference to India. helpful for school and college who try to understand the characteristics of Indian economy from the angle of developing economy.
In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
Post-Development Discourse And Alternatives to Development presented for the fulfillment of the course development sociology in Hawassa university, Ethiopia
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship PGPSE is for those who want to transform the world. It is different from MBA, BBA, CFA, CA,CS,ICWA and other traditional programmes. It is based on self certification and based on self learning and guidance by mentors. It is for those who want to be entrepreneurs and social changers. Let us work together. Our basic idea is that KNOWLEDGE IS FREE & AND SHARE IT WITH THE WORLD
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Credits: National Planning Commission, Federal Republic of Nigeria.
Chapter 5 How Managers Use Balance of Payments Data – p.213Do.docxrobertad6
Chapter 5: How Managers Use Balance of Payments Data – p.213
Do some research on the items in the table below and see if you see a pattern with the various country’s economies:
1. What is the G7?
2. What is the E7?
G7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
NOTE: When you find the GDP (Gross National Product) note the year – you may not have 2018 statistics. That is okay –find the latest data available. You may need to search for the Ranking of Ease of Doing Business – and then find the countries that make up the G7 or the E7.
NEXT PAGE!
E7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
A. Compare the 2 groups of countries – explain your findings.
Globalization Effects on Country Institutions, People and Business
Chapter 3
Key Points for the Chapter
Economic development comprises positive economic growth and entails changes in a country’s political, economic, and cultural institutions, as well as in individual values, attitudes, and behaviors.
Economic development requires resources from public and private sectors, both internal and external.
Technology transfers by international corporations comprise manufacturing technologies, management organizations, and marketing know-how.
Intro: The Economic Development Process
Economic development is the progress countries make in living standards as they experience positive economic growth and the changes occurring in societal and cultural institutions and values as nations move toward more advanced stages of industrialization.
Economic progress demonstrates human progress, and more pragmatically, it keeps politicians in power, companies busy, and consumers (and voters) optimistic about the future.
Technology Transfers
International trade, investments, and global media have opened world markets up to a variety of modernizing influences.
In general terms, technology transfers occur as corporations enter new markets with products, technologies, lifestyles, and business methods developed in their home and other international markets.
Technology transfers first affect urban segments of developing countries where there are developed infrastructures and pocket of economically significant customers.
As media become commercialization and distribution channels are built into rural areas, greater proportions of developing-country populations come into contact with modernization influences.
4
Positive Effects
Positive effects occur as societies are exposed to broad varieties of products that make lives easier.
Convenience products such as packaged foods, and consumer durables such as refrigerators, radios, televisions, and stoves have positive effects on consumer lifestyles.
New technologies in manufacturing and distribution make products cheaper and more widely available. They provide employment opportunities for lo.
DEVELOPMENT STUDIES AND ETHICSDiploma and Certificate Programmes.docxlynettearnold46882
DEVELOPMENT STUDIES AND ETHICS
Diploma and Certificate Programmes
BBB 1207 DEVELOPMENT STUDIES AND ETHICS
THE CONCEPT OF DEVELOPMENT AND UNDER-DEVELOPMENT
What is development?
In general, development is the process of improving the quality of human life.
The economic view of development is that it is the capacity of a national economy whose initial economic condition has been more or less static for a long period of time, to generate and ascertain an annual increase in its Gross Domestic Product (GDP) at the rate of 5% to 7%.
Development includes: quantity of resources available, equitable distribution of income, people’s quality of life e.g. access to education, healthcare, employment opportunities, security, etc.
· Development is a multi-dimensional process involving major changes in social structures, personal attributes and national institutions.
· Development is progressive
· The new economic view of development defines economic development in terms of its reduction or elimination of poverty, inequality and unemployment within the context of a growing economy.
Underdevelopment:
This is a state of inadequate development. It is characterized by diverse problems including unemployment, low level of technology and skills, under-utilization of resources, low literacy levels, confusion and ignorance, hopelessness, etc. It affects more than 3 billion people in the world.
Objectives of development
1. To increase availability and widespread distribution of basic life-sustaining goods such as food, shelter, security and health.
2. To raise the standards of living with emphasis on higher income, better education and greater attention to cultural and human values, all of which serve not only to enhance material well-being but also to generate individual and national esteem.
3. Expansion of the range of economic and social choices available to individuals and the nations in order to free them from servitude and dependency.
Core values of development
(i) Sustenance: This means the ability to meet basic needs. All people have certain basic needs without which life would be impossible. These life-sustaining human needs include food, shelter, health and protection. Their absence implies a condition of absolute underdevelopment.
· A basic function of all human activity is to provide as many people as possible with the means of overcoming the helplessness and misery arising from lack of the above.
· Without sustained and continuous economic progress at the individual as well as society level, the realization of human potential would not be possible.
(ii) Self-esteem : This means a sense of worth and self respect
· The nature and form of this self-esteem may vary from society to society, culture to culture.
(iii) Freedom from servitude: This means human freedom i.e. emancipation from alienating materials e.g. conditions of life and from social servitude to nature, ignorance, other people, misery, institutions and dogmatic beliefs.
· Fr.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
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How to Create Map Views in the Odoo 17 ERPCeline George
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
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The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Model Attribute Check Company Auto PropertyCeline George
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2. Growth vs. Development
• Economic growth refers to increase in the
National Income of an economy, without
structural changes, showing expansion of the
economy.
• Economic Development refers to structural
changes in production and consumption, with
increase in total output of the economy.
• It refers to changes in the technology, modes of
production, labour skills, education, health and
also reduction in poverty and unemployment.
• Important to identify which sectors are growing.
4-Apr-13 Prof. Prabha Panth 2
3. Large differences can
be seen between the
“Rich” and the
“Poor” countries’ PCY
4-Apr-13 3
4. Economic Development
• What factors cause such differences in the
standard of living of people across countries?
• First asked by Adam Smith, “An Inquiry into the
Nature and Causes of the Wealth of Nations.”
• Since then, different economists have tried to
answer this question.
• What factors lead to continuous economic
progress in some countries,
• And continuous decline or stagnation in others?
4-Apr-13 Prof. Prabha Panth 4
5. Difference between Developed and
Less Developed countries
• Developed countries:
High standard of living of the population,
Mechanised techniques of production,
High productivity of labour in agriculture and
industry.
High levels of industrial development,
High levels of education and health,
Low levels of unemployment,
Low population growth.
4-Apr-13 Prof. Prabha Panth 5
6. • Less Developed countries:
High incidence of poverty
Low levels of mechanisation, labour intensive
production,
Dominance of primary sector – agriculture,
mining, fishing, forestry. Low productivity
Low level of industrial development,
Unorganised labour, conservative societies,
Low incomes, consumption, and savings,
Illiteracy, contagious diseases. Malnutrition, high
level of maternal and child deaths.
Unemployment and disguised unemployment.
High rates of growth of population.
4-Apr-13 Prof. Prabha Panth 6
7. Causes of Development
• Historical:
Most less developed countries are in Asia, Africa
and S. America.
Most of them were colonies of European and
American powers.
Exploited by the sovereign powers,
Industrial development not taken up here,
Colonists saw them as markets for their final
products, and sources of raw materials.
4-Apr-13 Prof. Prabha Panth 7
8. • Technological development:
Industrial revolution in England – spread to Europe
and America.
Increased labour productivity,
New inventions and discoveries – e.g. steam
power,
Medical discoveries and control of fatal diseases
like pox, cholera, plague,
Political situation in the III World exploited by the I
world, colonies founded.
Sources of huge supplies of raw materials, fuelled
industrial revolution.
4-Apr-13 Prof. Prabha Panth 8
9. Industrialisation
• For economic progress, output has to
increase.
• Output can increase by increasing capital
input,
• Labour productivity increases.
• But less developed countries are deficient in
capital.
• Therefore industrial development is important
for economic development.
• Called “capital formation”.
4-Apr-13 Prof. Prabha Panth 9
10. Capital formation
Capital formation includes the growth of:
Light Machines (LM) that produce consumer goods
(capital goods that produce cars, TVs, ACs)
Heavy Machines: that produce LM and reproduce
themselves. Also called “Mother Machines” (heavy
machine tools)
Infrastructure: roads, railways, air, water, sewage,
etc.
Basic industries: metals, minerals, power supply.
4-Apr-13 Prof. Prabha Panth 10
11. Capital investment
• Who should invest in capital formation?
Heavy sector requires huge investments which
private sector cannot handle.
Also investment in Heavy sector is not profitable.
If it does, it creates monopolies, too expensive for
development.
To make profits it will sell heavy sector goods for
producing consumer goods.
Wasteful use of scarce capital goods.
Creates inequality in consumption.
4-Apr-13 Prof. Prabha Panth 11
12. • Public Sector:
Government can take up massive investments in the
Heavy sector – basic, heavy, and infrastructure
Government is not motivated by profit,
Subsidise, to encourage growth in related industries.
E.g. coal thermal power electric trains, etc.
Government can bear losses in these sectors.
Public sector motives: a) Growth and Development, b)
Welfare and c) price controls (no inflation).
Planned development is possible, with priority given to
important sectors, and suppressing unwanted goods.
Can provide employment as well.
4-Apr-13 Prof. Prabha Panth 12
13. Theories of Development
1. Structuralist Theory of Development:
• Raul Prebisch was the first to explore causes of under
development, and solutions for it.
• He realised that economic development requires
structural changes in production,
• Less developed countries must change from primary
products producing countries to manufacturing and
industrial development.
• Industrial development crucial to economic
development.
• Less developed countries should use their export
earnings to import capital for their own development.
4-Apr-13 Prof. Prabha Panth 13
14. 2. Arthur Lewis:
• Most less developed countries have surplus
labour in primary sector.
• “Disguised unemployment.”
• They can be diverted into industrial sector.
• Can produce infrastructure with labour intensive
techniques – dams, roads, rail tracks.
But does not show how Heavy Machines and Basic
industries should develop.
No changes in techniques in the primary goods sector.
So no development in this sector.
Leads to a “Dualist Economy.”
4-Apr-13 Prof. Prabha Panth 14
15. 3. Rostow’s model of development: Less
developed countries can learn from the
historical growth of the developed countries.
Economic development described as a series of
steps through which all countries must
proceed:
a) The Traditional Society
b) The Pre-conditions for take-off into self-
sustaining growth – 10-50 years
c) The Take-off
d) The Drive to Maturity – stabilising growth rates
e) The Age of High Mass Consumption – luxury
standards of living for the population.
4-Apr-13 Prof. Prabha Panth 15
16. But: the historical growth pattern does not apply
to all countries.
Many countries have jumped the stages.
Japan, after II World war, jumped straight to
Take off.
China and India aiming for High Mass
consumption, before achieving Take Off.
Does not discuss how capital formation will take
place, how to invest, and which sectors to
invest.
4-Apr-13 Prof. Prabha Panth 16
17. 4. Gautam Mathur: all less developed countries are
not alike.
• Some have surplus labour, others are deficient in
labour, some have achieved some level of
development and capital formation.
• So a single development model cannot be applied
to all less developed countries.
• Economic development consists of transforming a
poor country using inferior techniques, and with
low wages, to a developed country with superior
technology, high wages and standards of living.
• This is the target of development.
4-Apr-13 Prof. Prabha Panth 17
18. Initial conditions: what are the characteristics of
the less developed country at start of the
development programme?
Target: what is the target of development?
Path: which path of development should the
economy follow?
• Depending on initial conditions and target, the
path of development can be decided.
a) Choice of goods – which goods to produce, and
b) Choice of techniques, which techniques to use on
the path
• Planned economy
4-Apr-13 Prof. Prabha Panth 18
19. Target
W LM C
W H LM
W H H
Initial conditions
W Pl C
W Pl Pl
4-Apr-13 Prof. Prabha Panth 19
20. Mathur suggested various Strategies of development,
based on initial conditions of different underdeveloped
countries.
1. Wage Goods Strategy: for countries that have
absolutely no industrial development at the starting
point, and huge reserves of labour. Importance is given
to labour intensive methods of producing capital
2. Mechanised Light Machinery Strategy: some
economies have labour shortage, and some economic
development. Can use mechanised methods of
production on path. (e.g. former USSR)
3. Heavy Strategy: Some amount of labour surplus, here
priority is given to growth of Heavy sector goods on the
path, using labour intensive techs to produce C-goods.
4-Apr-13 Prof. Prabha Panth 20
21. • All three strategies are steady growth paths.
• Wage rate is kept constant, till the target is
reached.
• Equality in consumption is assured.
• Balanced growth – with no shortages or surplus,
full use of capacity and goods.
• No luxury goods production till after reaching the
target.
• Maximum plough back of Heavy sector goods
into their own reproduction.
• Maximisation of growth rate and minimisation of
time needed to reach the target.
4-Apr-13 Prof. Prabha Panth 21