POVERTY AND DEVELOPMENT(1).docx

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Department
Political Science
Course
POLB81H3
Professor
M.Hoffmann- Universityof Toronto
Semester
Winter

Description
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 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 p
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