GEOG 3050 Lecture Notes - Lecture 3: Overurbanization, Gunnar Myrdal, Spadina Station
26 Jan 2017
School
Department
Course
Professor
Document Summary
Urbanism and economic development: division of labour: industrialization, economic development and urbanization. Specialization, investment and industrialization - adam smith"s example of the pin factory. Development and industrialization seen as going together by early development scholars like arthur lewis, gunnar myrdal, hirschmann and others. Investment leads to great productivity and efficiency. Investment capital is key to rapid economic development. Developing countries can catch up through innovation. Transformation in last 20 years in both asia and africa. Moving away from agriculture: institutions, economic growth and economic development in development discourse. Institutions: formal and informal rules of the game influence which country innovates than others. How fast countries are able to reform. Matter to private enterprises due to the need to move capital across countries. Having the right institutions is more important than having economic growth. Institutions matter because they provide a predictable framework for exchange between institutions, individuals and organizations. South korea vs india or china vs india.
