POLSCI 2XX3 Lecture Notes - Lecture 2: Joseph Schumpeter, Effective Competition, Sustainable Development
14 Feb 2018
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Definition: development entails progress towards a more equitable distribution of income and services in order to reduce (and eventually eliminate) the worst forms of poverty, i. e. malnutrition, disease, illiteracy, homelessness. Development involves the production of those goods designed to tackle the problems of poverty: food, crops, fertilizers, low priced clothing, and construction materials. Still, more broadly conceived, development incudes the enrichment of the political and cultural life of the population as a while: the possibility of meaningful political participation, education beyond practical work, and literacy training. More than half of the world lives in conditions of prosperous areas. For the first time in history, humanity possesses the. 7 decades of development: theories of comparative advantage/ free trade, basic needs approach. )ndustrialization: (cid:498)bigger is better(cid:499) (cid:498)small is beautiful(cid:499: appropriate technology, globalization/ neo liberal economics, sustainable development. Main economic theories of development: theories of comparative advantage- free trade, theories of vicious circles of poverty, theories of stages of economic growth.
