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SOCI 254 (101)
Lecture 5

SOCI 254 Lecture 5: 1-24-2017-Ingredients-of-Development
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Department
Sociology (Arts)
Course
SOCI 254
Professor
Amm Quamruzzaman
Semester
Winter

Description
SOCI 254-FRAMEWORK OF DEVELOPMENT Ingredients of Development Basic Two -Nation states and economic growth -Initially internal but with globalization became external too -Nation state: Sovereign area where residents are united by factors that define a nation -UN promotes ideas that each major nation should have a nation state and be a UN member (193) -Not every nation has a nation state Finer Ingredients -National framework for economic growth (economic nationalism) -International framework of military and economic aid securing continued access to resources -A strategy involving industrialization (ISI vs tech transfer in different cases) -Agrarian reform encouraging agro-industrialization -Developmental state initiatives to manage investment and mobilize multi class political coalitions into development alliance -Realization of development through new inequalities (class, gender, race); not part of the development project but an inextricably linked notion International Framework Meaning -Two initiatives -Bilateral Marshall Plan to reconstruct the first world pay WWII -Breton Woods program meant to link the entire world economy together -Emerged with the former and formalized with the latter -Europeans desired social peace and employment and the US wanted new markets -Third world wanted peace and development -Marshall Plan offered a solution by providing resources after devastation of war and colonialism Marshall Plan -Channeled over 13 billion to Europe and Japan-->16 nations -Soviets saw this as an attempt to interfere in affairs of other states -Soviets prevented Czechs and Poles from taking part -Restored trade and price stability and integrated European and US economies -Through dollar credits allowing recipients to buy US goods -Arms trade to contain communism -Extended to LDCs through the Point Four program, naked after a portion of Truman’s speech -Both European nations and former colonies were ranked as needing aid for postwar and postcolonial recovery Multilateral Aid -Bretton Woods was in 1944, a meeting of 44 finance ministers in NH to create a world banking system through the IMF and World bank -World Bank would borrow money in international capital markets to raise money for development, infrastructure, and cash crop ag -IMF was to disburse credit for those who needed to stabilize their currency exchanges -Bretton Woods was framed as a multilateral attempt Differences -Bilateral is between two nations -Multilateral is from multiple nations to a multilateral agency like the World Bank or IMF which then disburses the funds to recipient nations Multilateralism -Higher participation with more sources -Generally less political because of the different ideologies -Aim was global governance to deepen the understand that economic
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