GEO 206 Lecture Notes - Lecture 5: Human Capital, Microcredit, Cornucopian
18 Sep 2020
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What is economic development: defined by the standard of living access to clean drinking water, education, life expectancy, human development index. What is a dual economy: occurs when the traditional agriculture activities and urban industrialized activities both exist within the same country e. g. haiti/mexico. What are the economic indicators measuring development: gdp/ppp, productivity skills of people, # of machines, quality of machines, savings rate- higher development and productivity. What are the social indicators measuring development: hdi, human capital education, training and skill level, developing countries struggle with education as a result there is a low human capital. Discuss 4 major reasons why the historical regions: colonialism, reorganization of political structures, slavery as labour, extraction of resources, positions of political, agriculture. Colonialism, reorganization of political structures, slavery, extraction of resources. Why do you think lack of economic growth of less developed countries should not be based on historical/colonial reasons alone: canada, us. Australia, south korea all colonized but turned out well.
