INTB 1203 Lecture Notes - Lecture 3: Mixed Economy, Amartya Sen, Arab Spring
16 Dec 2016
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Document Summary
Key economic indicators: gni: total annual income received by residents of a nation (per capita, ppp (purchasing power parity): gni adjusted for cost of living compared to us. Innovation and entrepreneurship: engines of economic growth. Innovation & entrepreneurship thrive best with: a market economy with profit incentives, strong property rights case: emerging property rights in china, typically a democracy, but sometimes discipline more than democracy, favorable geography (sachs, education. Innovation: development of new products, processes, organizations, management practices, and strategies: engines of economic growth. Innovation in new products, processes, organizations, management practices, strategies (e. g. , Amazon. com - online retailing; toys r us - large warehouses) States in transition: spread of democracy due to, nondemocratic, totalitarian regimes lagged in economic progress, information technologies, internet, facebook, emergence of prosperous middle classes. Prior to the law people could get reallocated without their consent. The people now have the right to own private assets.
