GS211 Lecture Notes - Lecture 4: Walt Whitman Rostow, Natural Disaster, Nationstates
Document Summary
Concluding remarks last lecture: point 4 introduces a new paradigm of development. New way of framing development, can actively do something to facilitate economic growth, and better opportunities for development. Appealed to usa and underdeveloped nations, it appealed b/c the idea of common good is there. Through aid in the form of technological transfers and increased trade (this avoids political debate as the measures can be presented as either conservative or revolutionary), more knowledge about issues. Gdp, most important factor in development, this is the way to think of development: gym overview. If development was mainly defined as improved economic growth, then we need to understand macro-economic theories of growth. Two dominant macro-economic positions: state-led or state-regulated markets vs. self-regulated markets. The market itself will create conditions for optimal growth. Either more open laissez-faire market (self -regulated), or one where state should intervene. Focus on issues of vital concern: employment, development.
