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Feb 07 Outliers or Models? Dependent Development Lecture

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Political Science
Joseph Wong

Outliers or Models Dependent Development Feb 072011 What Is DevelopmentHuman developmento Individuals health education literacy etcEquitable development o Income distributed through political systemlife chancesCapacity o Skills education technology in order to continually develop economySustainable development o Environmental degradation over the long termPolitical development o Democratic reformFocus on aggregate economic growth o How or why economies grow How do they improveHow to explain o Theories help explain the worldPrescription PrescribeDevelopment is about progressA Theoretical Conversation 1 The Cosmopolitan View Positive Sum ViewPositive Sum Vieweveryone benefits as long as people arent lazy or irrationalDavid RicardoUnder free trade each country devotes its capital and labor to each employment as are most beneficial to each Pursuit of individual advantage is admirably connected with the universal good of the wholeSpecializationDivision of laborEfficiency Capitalism is not for lazy individuals II The Mercantilist ViewListHamiltonNations matterCosmopolitan view only benefits Englands hegemony Smiths view of the world is unequal List sees a negative sum view o Some nations will benefito Unfair system o Great for Britain awful for US and GermanyIts about the visible hand of governmento Allows for USGermany late development countries to compete o Comparative Advantage
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