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Outliers or Models? Dependent Development

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Political Science
Jeffrey Kopstein

Feb 7) Pol101Y1 - Outliers or Models? Dependent Development What is development? Human development: population growth, Equitable development: [wealth] distributive consequences of development Capacity: having the skills, education, experience and technology in order for economy and society to sustain development Sustainable development Political development: e.g. transition of political regime, authoritarianism democracy **therefore development is a sense of improvement, a progress for better lives Focus on aggregate economic growth How to explain? : We use theories because they describe world, prescribe how world should work, endeavour to predict A theoretical conversation 1. The cosmopolitical view: [Smith & Ricardo] key to the global economy is specialization. Through specialization, we see division of labour. Each firm specializes in a certain thing and it is effective. It leads to global productivity global prosperity global peace. 2. The mercantilist view: [List & Hamilton: German & American] what matters in global economy is nation, the individual. In order to create more equal term and comparative advantage against other nations, it requires the visible hand of the government. 3. The Leninist view: Lenin was inspired by Marx. Highest order of capitalism is not its own demise, but rather monopoly capitalism. Monopoly, the huge firms, accrue capital over the course of time until they can no longer invest in own economy. The capital then leaves through imperialism, moves to other countries, finances development, etc.
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