LABR 2P96 Lecture Notes - Lecture 2: Universal Rule, Socalled, Strategy Of Unbalanced Growth
25 Sep 2016
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It is the rise in investment and in the per capita stock of capital. In precondition times, countries should increase productivity in agriculture (food production) and the extractive industries (oil, gold) for surplus income; and increase social overhead capital (industry, transportation, and other modernizing processes) Ex/ goal played big roll in economic growth in usa. Social overhead capital: what moves goods to be sold in market. The take off requires major changes in political and social structures, and in social values. Create a political, social and institutional framework to mobilize domestic saving and give to growth an on-going character. It is one who structure is developed within limited production functions (outside of science, and technology). A ceiling existed on the level of output production and productivity per head. Under the banner of poverty, enforced reorganization of many societies into money economies was conducted like a moral crusade. In canada we have aboriginals still in this stage.
