POLI 244 Lecture Notes - Lecture 5: Sharecropping, Monopsony, Risk Aversion
3 Oct 2016
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Document Summary
Advancement in communications technology has brought people closer together. Yet, the global community is divided between affluent developed nations and struggling developing countries. Many of us have a limited understanding of how greatly life in africa, asia, and latin. America differs from life in western europe and north america. 1 is to drive this idea home, and consider that policy decisions made in the developed nations exert profound impacts, for better or worse, on the people of developing countries. The second major point of chapter 1 is that development economics must encompass the study of social, political, and economic factors affecting the well-being of all people. With improved distribution of income and application of appropriate modern technology, developing countries, assisted by developed nations, must aim at eliminating absolute poverty. A major theme of chapter 1 is the sustained increases in the level of per capita income must enhance human capabilities in achieving equality, freedom, and interdependence.
