The document discusses the history of economic theories of development from the 1940s to present. Early theories focused on issues like low savings, population growth, and structural changes needed in developing economies. Later theories examined political and social factors, terms of trade, and the experiences of newly industrialized countries. More recent debates center around the Washington Consensus of free market policies versus structuralist and developmental state approaches of different countries. The document also discusses concepts of sustainable development and biophysical/ethical limits to unlimited economic growth. It concludes by discussing alternative definitions of development focused on well-being, needs, and ensuring future generations can meet their needs.
Marxist view, Neo- Marxist view, Modernization, Dependency theory, world system theory, Post development theory, Sustainable development, Human development theory
Definition of development & Underdevelopment
Theories of Development
a) Modernization theory
b) Dependency theory
c) Participation theory
d) Marxist thought of Development
Conclusion
References
Marxist view, Neo- Marxist view, Modernization, Dependency theory, world system theory, Post development theory, Sustainable development, Human development theory
Definition of development & Underdevelopment
Theories of Development
a) Modernization theory
b) Dependency theory
c) Participation theory
d) Marxist thought of Development
Conclusion
References
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Maniefsto: Xiulan Zhang - Reflections on Innovation, Sustainability and Devel...STEPS Centre
The STEPS Centre Symposium, 26 September 2009, focused on our Innovation, Sustainability, Development: A New Manifesto project. This presentation by Xiulan Zhang of Beijing Normal University, China, was one of those given at the event. For more information see: www.anewmanifesto.org
The developmental state: the nature of statal policy and institutional reformCosty Costantinos
Political leadership in Africa requires intimate knowledge of public policy analysis, formulation and management and development of strategic plans and implementing them to achieve results. This is augured in a need for an independent review of the capacities of institutions as regards the rights-based approach to developing the institutions and developing knowledge management systems, stopping the brain drain and turning it to brain-gain. More important is leadership and management capacity building: reinventing the quality of training and education in human qualities development to build a core civil service: focusing on political, social and economic governance of the state’s oversight responsibilities.
What is Political Economy?
Different types of Economic Systems and its influence on planning process
Capitalism and Capitalist Planning Model
Communism and Communist Planning Model
Socialism and Socialist Planning Model
Based on Erik Reinert, How Rich Countries Got Rich ... and Why Poor Countries Stay Poor (2007), London: Constable, Chapter 8: “Get the economic activities right”, or, the Lost Art of Creating Middle-Income Countries. Further discussion on how to make upper-middle income county out of middle-income trap. And how to synchronize different aspect on developmental policy in modern era.
Theories for World Sociology (Global Development)MissHSociology
Description of 7 different theoretical approaches to understanding world development.
Modernisation Theory, Neo-Liberalist Theory, Counter-Industrial Theory, Dependency Theory, World Systems Theory, Feminist Theory.
Descriptions of theories, plus evaluations.
Global Political Economy: How The World Works?Jeffrey Harrod
These are the slides which are displayed by the lecturer Jeffrey Harrod in the on-line Lecture Course "Global Political Economy: How the World Works" which is available free on his website http://www.jeffreyharrod.eu/avcourse.html.
The purpose it to make the slides available to download which at the moment cannot be done from the on-line lecture. Many of the slides provide data which may be useful in presentations and research papers. Other slides are the points addressed in the lecture.
The course covers all the material conventionally found in courses on international political economy. The approach is critical and realist and seeks to understand or explain
power rather than functions which surround the world economy.
The lectures and slides cover investment, trade, finance , migration and labour paying special attention to the multinational corporation and the agencies of states as the central power players in the global economy.
Challenges and benefits of implementation of the national standard on cultu...Ahmed Otokiti MD, MBA, MPH
The National cultural and linguistic standard is mandated by the Government(U.S DHHS).However there are challenges and benefit to its implementation. This paper looks at these challenges and benefits in two Bronx Hospitals, NY.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Maniefsto: Xiulan Zhang - Reflections on Innovation, Sustainability and Devel...STEPS Centre
The STEPS Centre Symposium, 26 September 2009, focused on our Innovation, Sustainability, Development: A New Manifesto project. This presentation by Xiulan Zhang of Beijing Normal University, China, was one of those given at the event. For more information see: www.anewmanifesto.org
The developmental state: the nature of statal policy and institutional reformCosty Costantinos
Political leadership in Africa requires intimate knowledge of public policy analysis, formulation and management and development of strategic plans and implementing them to achieve results. This is augured in a need for an independent review of the capacities of institutions as regards the rights-based approach to developing the institutions and developing knowledge management systems, stopping the brain drain and turning it to brain-gain. More important is leadership and management capacity building: reinventing the quality of training and education in human qualities development to build a core civil service: focusing on political, social and economic governance of the state’s oversight responsibilities.
What is Political Economy?
Different types of Economic Systems and its influence on planning process
Capitalism and Capitalist Planning Model
Communism and Communist Planning Model
Socialism and Socialist Planning Model
Based on Erik Reinert, How Rich Countries Got Rich ... and Why Poor Countries Stay Poor (2007), London: Constable, Chapter 8: “Get the economic activities right”, or, the Lost Art of Creating Middle-Income Countries. Further discussion on how to make upper-middle income county out of middle-income trap. And how to synchronize different aspect on developmental policy in modern era.
Theories for World Sociology (Global Development)MissHSociology
Description of 7 different theoretical approaches to understanding world development.
Modernisation Theory, Neo-Liberalist Theory, Counter-Industrial Theory, Dependency Theory, World Systems Theory, Feminist Theory.
Descriptions of theories, plus evaluations.
Global Political Economy: How The World Works?Jeffrey Harrod
These are the slides which are displayed by the lecturer Jeffrey Harrod in the on-line Lecture Course "Global Political Economy: How the World Works" which is available free on his website http://www.jeffreyharrod.eu/avcourse.html.
The purpose it to make the slides available to download which at the moment cannot be done from the on-line lecture. Many of the slides provide data which may be useful in presentations and research papers. Other slides are the points addressed in the lecture.
The course covers all the material conventionally found in courses on international political economy. The approach is critical and realist and seeks to understand or explain
power rather than functions which surround the world economy.
The lectures and slides cover investment, trade, finance , migration and labour paying special attention to the multinational corporation and the agencies of states as the central power players in the global economy.
Challenges and benefits of implementation of the national standard on cultu...Ahmed Otokiti MD, MBA, MPH
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the presentation focuses on the concept of development.How different scholars have defined development,the models and theories under itjklasdasldkasdasfasfa afafafaasf afafaFAF FAFAFAF FASFASFAFSGE QWAFAF FQQFQFAF FQWFQFAF FQQWASFA AFQWRQFAS Q.FASFFFQWF QFAFQWRFA FQWFAF WFFQrqhkabal afjhbqwui hkfqwkhfoqh fiqofhlqnl afnalfnqlwiknfjasfo nfasnflanfiqnlfqiwfqlflS FHQIOH.
Political EconomicApproachesto DevelopmentPolitical Economy Spring 202.docxlarry345678
Political Economic Approaches to Development
Political Economy Spring 2020
What is Development?
How should we define development?
Quality of Life
Urbanization
Level of Manufacturing
GDP
Energy Consumption
Median Household Income
Education
Level of Technology
Why Does Development Matter
The absolute find themselves in conditions degraded by disease, illiteracy, malnutrition, and squalor denying them the basic human necessities.
Robert McNamara
½ the world population l (3 billion) live on less than $2.50/day
1.3 billion live on less than $1.25/day
5 stages of Development WW. Rostow
Is Development Inevitable?
Does development naturally follow:
Efficiency
Specialization
Surplus/Savings/Investment
Increased Productivity/Innovation
Trade
Consumption
Internal Barriers to Development
Inequality in income/wealth, especially when tied to racial, cultural, or other social divisions
Poor Infrastructure
Roads, Ports, Electricity, Water/Sanitation, Communication/Wireless
Quality of Financial Institutions
Availability of Savings, Credit, Investment
Poor Education System
Lack of Security
Lack of Natural Resources
Lack of Political Freedoms
Corruption/patronage
Market Failures
Geography/Bad Neighbors
External Barriers to Development
Multinational or Transnational Corporations (MNC/TNC) control of resources
Bad Deals
International Division of Labor
International Trade Patterns and Practices
WTO
Regional Trade Blocks
EU
TPP
NAFTA/UMCA
Institutional Change and Development
What institutions are needed to manage economic development?
Legal System
Pubic Works/Infrastructure
Public Health
Birth of new Institutions
Financial Sector
Banks
Stock Markets
Insurance Companies
Regulation
What is the Appropriate
Role of the State?
5 stages of Development WW. Rostow
Varieties of Paths to Development – Washington Consensus
Free Market/Free Trade
Low government borrowing. The idea was to discourage developing economies from having high fiscal deficits relative to their GDP.
Diversion of public spending from subsidies to important long-term growth supporting sectors like primary education, primary healthcare, and infrastructure.
Implementing tax reform policies to broaden the tax base and adopt moderate marginal tax rates.
Selecting interest rates that are determined by the market. These interest rates should be positive after taking inflation into account.
Encouraging competitive exchange rates through freely-floating currency exchange.
Adoption of free trade policies. This would result in the liberalization of imports, removing trade barriers such as tariffs and quotas.
Relaxing rules on foreign direct investment.
The privatization of state enterprises. Typically, in developing countries, these industries include railway, oil, and gas.
The eradication of regulations and policies that restrict competition or add unnecessary barriers to entry.
Development of property rights.
Varieties of Paths to Development – Beijing Consensus
Free Market With Chinese Characteristi.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...tesfa7
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
Global education and current trends from social abstract for the paperAmarwaha
The last century intense with a dream and aspirations and major social experiments has ended with general collapse of initiative for social transformation and total disillusionment with efforts of ‘development’ of the so called ‘developing’ nations. The so called victorious ideology-capitalism- has sought to consolidate its triumph with a call for ‘globalization’ for freeing of market, for unchecked hunting by private capital within and across nations with total disregard for the sovereignty rights of nations across the world. Globalization did not develop evenly: indeed, it was accompanied by inequality and conflict. The global development of economic and social relations has been paralleled by wide disparities between North and South.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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1. 1. Economic theories of development
• What development economists agree on:
Development economics: deals with the economic,
social, political, and institutional mechanisms, both
public and private, necessary to bring about
improvements in wellbeing.
Structural change is an essential part of this process
BUT: does this mean a shift away from agriculture or
increases in productivity throughout the economy?
(see Timmer’s papers on Blackboard)
2. Back and forth: theories of economic development
See Hunt, D. (1989) Economic Theories of Development: An Analysis of Competing Paradigms H. Wheatsheaf. 338.9-HUN, ch3
1945-mid1950s
Context: political independence of several developing countries, Worldwide
policies to boost aggregate demand (Keynesian), setting up of the Bretton
Woods institutions (World Bank, IMF, WTO), state intervention and
planning of the economy (Soviet Union)
Ideas underdevelopment as low-level equilibrium caused by low savings, high
population growth, market failures due to scale economies and externalities
(Rosenstein-Rodan, Nurkse), dual economy with backward sector
(agriculture) and modern sector (industry) (Lewis), emphasis on
intersectoral linkages and discussions about the benefits of balanced versus
unbalanced economic growth (Lewis, Hirschman)
…mid1950s-late 1960s
Context uneven international development (Myrdal) and import substitution
policies to promote industrialisation
Ideas Marxist theorists (Baran): importance of political and social factors in
development and inefficiency and corruption of capitalist state.
Structuralism (Cardoso, and Prebisch at the UN ECLA, Chenery):
recognition of structural rigidities typical of DCs : supply rigidities in
agriculture and industry, terms of trade weighted against DCs exports
(Singer and Prebisch)
3. …mid1960s-1980
Context emergence of the Newly Industrialised Countries –Taiwan,
Singapore, South Korea, Hong Kong, debt problem in LA and SSA
Ideas revival of neoclassical economics, free market policies and export
orientation (Lal, Little, Scitovsky); emergence of basic needs agenda,
emphasising neglect of the poor; dependency school: criticism of structure
of international relations and trade (and transnational corporations) which
systematically hampers efforts of ISI countries
…1980s and 1990s:
Context Debt crisis, IMF and WB first structural adjustment wave: recession
and poverty increases. Revision of the NIC’s experiences showing the
scope for state intervention and the synergies between states and markets,
BUT continuing pressure to liberalise.
Ideas Raise of institutions: New growth theory emphasising role of income
inequality, education and natural resources, New structuralist theory
studying determinants of growth, income distribution, inflation, and fiscal
and balance of payments problems. Micro: New neoclassical approaches
(industrial organisation, game theory and information economics) applied
to development (agrarian relations, income distribution, causes of poverty).
POST CRISIS: rediscovery of state intervention and regulation (back to
the 1940s???)
4. 2. Development policies: West vs South (and East)
The Washington Consensus (World Bank and IMF policies): macroeconomic
stability (control of inflation and reduction of fiscal deficit), liberalise trade and
factor markets (privatisation and deregulation), globalisation of development policy
analysis (one recipe) and a-historical performance assessment
Beliefs: markets work well and are superior to gvts. in resource allocation, all
economies behave in the same way, all economies tend to equilibrium,
predictable response to policy, speed of transition depends on the consistency of
policy makers and the swift removal of barriers to market functioning
Issues not addressed: how long is the transition? how large the negative effects to be
tolerated? how large the positive ones needed to compensate them?
First adjustment wave -Washington Consensus: adoption of different trade regimes
(elimination of trade barriers adopted during the Import Substitution phase),
privatisation of large domestic firms (particularly in the service sector),
deregulation of labour and financial markets
Second adjustment wave “refurbished Washington Consensus” or “augmented
Washington Consensus”: investment in education, training and infrastructure,
access to finance for modernisation for small and medium enterprises (SMEs),
education reform, safety net type of projects for those who bear the costs of
reform , need for ‘good governance’ and anti-corruption measures, controls on
flows of hot money
5. The “Southern” Consensus (Latin American Structuralism and East Asian
Developmentalism): reject idea that there is one recipe for growth with late
industrialisation, heavy emphasis on historical analysis of processes of late
industrialisation in the world periphery, emphasis on development of national
capabilities.
Beliefs: institutional failures of markets, governments, and international institutions
structural differences and asymmetries exist, path-dependency (history matters)
and lock-in (some processes may be irreversible) Asymmetric globalisation in
wealth generation and in markets: think of mobility of capitals and products and
barriers to labour mobility.
Policies: growth and structural change to be achieved through “strategic integration” of
national economy into the world economy (attention to time and sequencing of
opening up); combine macroeconomic policy with “productive development
policy”, mixing sectorally-neutral and selective policies (technology policy,
financial policy, human resource development, physical infrastructure
development, industrial organisation and competition policy); government-business
co-operation (common vision of development targets), pragmatic developmental
state (support for private sector temporary and conditional on targets); management
of distributional dimensions of the growth process to ensure legitimacy (wide asset
ownership and expansion of productive employment: agrarian reform, rural
development policies, re-investment of profits, profit-related payment systems,
support for SMEs); regional integration and co-operation policies
6. 3. Sustainable development
"Anyone who believes exponential growth can go on forever
in a finite world is either a madman or an economist."
Kenneth Boulding (1910-1993)
Read: http://limitstogrowth.net/Essay.html
7. 3.1 Biophysical limits to growth
Finitude: fixed size of the ecosystem that hosts an expanding
economic system
Entropy: the ordered structures of the economic subsystem are
maintained at the expense of creating a more than offsetting
amount of disorder in the rest of the system. Ecosystem as
source of low-entropy inputs and sink for high entropy waste.
Entropic costs = depletion of resources and pollution (see
contraction and convergence reading)
Ecological interdependence: ecological connections between
economic sub-system and its hosting ecosystem are disrupted
with growth of economy
8. 3.2 Ethical and social limits to growth
Cost to unpaid workers: anything that does not enter the calculations of GDP
does not matter, therefore it can be used up without need for reinvestment
Costs to future generations: how do discount rates work? Welfare of future
people?
Cost to other life forms: extinction and the welfare of other animals and
planet (Calculate your own ‘ecological footprint’:
http://adbusters.org/metas/eco/truecosteconomics/)
“The capitalist mode of production is not the famous capital-wage-labour
relation, but rather needs different categories of colonies, women, other
peoples and nature, to uphold the model of ever-expanding growth” (Mies,
Maria (1986) Patriarchy and Accumulation on a World Scale London and
New York: Zed Books)
9. What then?
United Nations Definition of Development The basic purpose of development is to
enlarge people's choices. In principle, these choices can be infinite and can change
over time. People often value achievements that do not show up at all, or not
immediately, in income or growth figures: greater access to knowledge, better
nutrition and health services, more secure livelihoods, security against crime and
physical violence, satisfying leisure hours, political and cultural freedoms and
sense of participation in community activities. The objective of development is to
create an enabling environment for people to enjoy long, healthy and creative
lives." Mahbub ul Haq
UN definition of sustainable development: development which meets the needs of
the present without sacrificing the ability of the future to meet its needs.
Growth: quantitative increase by assimilation or accretion of materials
Development: qualitative improvement, realization of potential
Sustainable development: development without growth, limit the scale of
throughput = the flow beginning with raw material inputs, followed by their
conversion into commodities and finally into waste outputs. Herman Daly
‘Beyond growth: the economics of sustainable development’ (see also
http://dieoff.org/page88.htm)
10. What then?
United Nations Definition of Development The basic purpose of development is to
enlarge people's choices. In principle, these choices can be infinite and can change
over time. People often value achievements that do not show up at all, or not
immediately, in income or growth figures: greater access to knowledge, better
nutrition and health services, more secure livelihoods, security against crime and
physical violence, satisfying leisure hours, political and cultural freedoms and
sense of participation in community activities. The objective of development is to
create an enabling environment for people to enjoy long, healthy and creative
lives." Mahbub ul Haq
UN definition of sustainable development: development which meets the needs of
the present without sacrificing the ability of the future to meet its needs.
Growth: quantitative increase by assimilation or accretion of materials
Development: qualitative improvement, realization of potential
Sustainable development: development without growth, limit the scale of
throughput = the flow beginning with raw material inputs, followed by their
conversion into commodities and finally into waste outputs. Herman Daly
‘Beyond growth: the economics of sustainable development’ (see also
http://dieoff.org/page88.htm)