POLB81H3 Lecture Notes - Structural Adjustment, Kuznets Curve, Human Capital Flight

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Published on 16 Apr 2013
School
UTSC
Department
Political Science
Course
POLB81H3
4/14/2013 7:41:00 PM
Lecture 4
Of what is this instance?
- Institutionalism: for the most part we are talking about business elites. They are saying that it can’t solve
these problems. Global capital is not going to solve these kinds of problems. They talked to business elites
and they said that. Global capitals: maybe institutions isn’t the right way either.
- It could also be the needs to go beyond institutionalism. They see economic development through
education. It’s much decentralized.
- Hints of feminism perspective. Kind of individualistic approach. Solve problems through empowering
women, education, etc.
- This is an example of limnality: State of being in between. We have a pretty vague idea of what is going
to work.
- Most elite of the elites being not exactly sure what the way is forward. So they’re trying lots of different
ideas. But the notion of global governance is going to evolve.
- Trans governmental/transnationalism: the idea of promoting innovation. Implicitly here is a
transnationalism perspective.
Global poverty and Development
- Economic development of global challenge video
o Conventional understanding of development
o Pro-market, economic centric
o Gives the basic of the problem
o Productivity: high productivity translates into high income standard.
Skills of the people
Number of machines they have
Productive machines
o The increase in capital stock is called investment. The level of investment is related to the savings
account of a country. A higher saving rate increase productivity and income but not necessarily human
investment.
o Country can achieve faster economic growth by increasing investment but capital can return returns to
capital.
o Human capital: stock of knowledge embodied in a person. Human capital makes people more
productive.
o Brain drain: reduces human capital in poor countries
o Increases in human capital will improve standard of living
o Technology: blueprint of the production process. Technological innovation leads to higher productivity.
o Lack of technology sharing can explain the gap
o Causes of underdevelopment
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Some country’s geographical area helps their development. Other countries experience harsh seasons.
History of colonialism scarred countries. Negative consequences of colonialism such as exploitation of
resources and people. In some cases this institutional underdevelopment can be traced back to
underdevelopment. Angola is an example of a country overcoming colonialism.
Capitalism system today create a core and periphery system
Foreign capital investment is in part a new colonial experience
Fair judiciary and property rights and credit institutions are not functioning well
Haiti stagnation is a result of political instability and domestic foreign investment has been slow to return
Dual economy: rural economy remains the same while the urban areas experience industrialization.
- It is really good in terms of moving clearly from and understanding the problem through the solutions
they came up
- What is the problem?
o Low income=low standard of living=which causes the problem of productivity
- What problems or needs stop us from increasing productivity? The focus of problem solving is figuring
out why a country has low productivity and how that can be overcome?
- How different perspectives deviate from this logic?
Scope of the multi-dimensional of the problem
- As an individual problem of income: proportion of population of various regions of the world that exist
on these levels of income. Problem of poverty and underdevelopment is that people don’t have enough
money.
Individual economic perspective?
- The problem of development and poverty is changing individual lives
National human development perspective?
- The problem of development and poverty is at a national level
- Human development chart: trajectories in human development indicators: not just looking at GDP but a
range of economic and social indicators to understand monetary and social problems. We could look at
underdevelopment and poverty as a national problem and how national policies put countries on different
trajectories. National level policies change people’s lives and how over time they change.
Linked to other issues?
- Look at it as a global problem.
- Global history and development is part of the problem.
- Self-interest (development is not just the problems of the states wanting to develop but stability and
development go hand in hand). Security and economic.
- Historical: always been a global issue
- Globalization and neo-liberalization is part of the problem
- Development is part of the global economy so it automatically is a global issue
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Document Summary

Institutionalism: for the most part we are talking about business elites. They are saying that it can"t solve these problems. Global capital is not going to solve these kinds of problems. They talked to business elites and they said that. Global capitals: maybe institutions isn"t the right way either. It could also be the needs to go beyond institutionalism. This is an example of limnality: state of being in between. We have a pretty vague idea of what is going to work. Most elite of the elites being not exactly sure what the way is forward. But the notion of global governance is going to evolve. Trans governmental/transnationalism: the idea of promoting innovation. Economic development of global challenge video: conventional understanding of development, pro-market, economic centric, gives the basic of the problem, productivity: high productivity translates into high income standard. Productive machines: the increase in capital stock is called investment.

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