INR 4702 Lecture Notes - Lecture 6: New International Economic Order, United Nations Conference On Trade And Development, Dependency Theory
14 Oct 2017
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Document Summary
Apply the speci c-factors models to the experience of the developing countries. Basic premise: the west should serve as the model. This was the prescription for development in the post-war period. This was known as shock therapy in the immediate post-cold war period. In eastern europe, the former communist states should rip the band-aid o and fully liberalize. Higher standards of living can only be achieved through industrialization. In the 1960s a number of scholars began focusing on why latin america was not developing. Am (ecla): declining terms of trade and isi. Dependency: a historical model; today"s societies cannot be presusmed to be able to replicate the evolution of other societies. The center gains at the expense of the periphery. Two paths to development: withdrawal and self-reliance: Tanzani, mozambique, n. korea, china ( 50s, 60s), cuba. Develop local industries to produce items that a country had been importing.
