POG 323 Lecture Notes - Lecture 1: Gross Domestic Product, Neocolonialism, Comparative Advantage

• School: Ryerson University
• Department: Politics and Public Administration
• Course: POG 323
• Professor: Mitu Segupta

Document Summary

Intellectual roots: roots in classical economics/liberalism, authored mainly by academics in us universities and policymakers in the us government, context: post ww2 optimism, cold war geopolitics mt was most influential during the. What is development: prosperity growth will trickle down, modern/rational societies, technological/scientific advancement. Development indicators: e(cid:272)o(cid:374)o(cid:373)i(cid:272) gro(cid:449)th: a(cid:374) i(cid:374)(cid:272)rease i(cid:374) a (cid:272)ou(cid:374)try"s produ(cid:272)tio(cid:374) of goods a(cid:374)d ser(cid:448)i(cid:272)es, (cid:373)easured (cid:271)y the (cid:272)ou(cid:374)try"s gro(cid:449)th of its gross do(cid:373)esti(cid:272) produ(cid:272)t (cid:894)gdp(cid:895) Causes of underdevelopment: traditional society, lack of innovation and spirit of enterprise, barriers to access to modern technology, emphasizes factors internal to the country. Industrialization with the private sector leading whenever possible: exploiting comparative advantage. Agents of development: national governments facilitating private enterprise, western donors viewed as beneficial, transnational corporations also viewed as beneficial. Intellectual roots: roots in structural economics/marxism, authored mainly by scholars in developing countries especially in latin america and favored by policymakers in developing countries, context: perceived failure of development practices informed by modernization theory.