GINS 1100 Lecture Notes - Walt Whitman Rostow, Free Trade, Neoliberalism
19 Dec 2018
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Document Summary
Economies should move from traditional to modern way of organizing labour and capital. Urbanization, establishment of industry, x market failures e. g. of organizing labour traditionally: subsistence farming give aid to developing countries to improve market. Laid out notion of stages of development. Traditional, preconditions, take-off, drive to maturity, modern (high-mass consumption) Key infrastructure, industry from simple to more complex, parallel investment in education. Strongly in uenced creation and initial work of world bank. Large project funding for energy, transportation and industry. You need to have basic infrastructure for development. - if trade linkages make it impossible to industrialize there is no development. Local elites are often content to support foreign interests instead of working for bene t of their own nation. Capitalism requires a global system of core and peripheries, where movement is dif cult/ impossible. Argues that too much state intervention has led to less development. Market existed everywhere if states go out of the way.
