INTL DV 110 Lecture Notes - Lecture 1: Friedrich Hayek, John Maynard Keynes, Economic Planning
Document Summary
Understanding development requires critical thinking skills: identify multiple meanings, historical changes, contradictions, and specificities. Everyone has their own definition of development (can be positive or negative) How to study development and why it matters. Un calls 17 sdgs a shared ambition for the planet. Sdg 3 = good health and well being. Single biggest cause of healthcare disruption: loss of job. Fastest growing site of covid infections: the workplace. Most logical solution: don"t tie healthcare to work. Debate central to the dynamics of global transformation in 20th century. Two economists: john maynard keynes, friedrich von hayek. Collectivizing allows states to redistribute and give people better lives. Keynes: states can and should actively intervene in the problems of individuals and society by managing how market operate and their effects. Saw that under capitalism, if you don"t have land you can"t grow food, and livelihood is affected. Was a new way of looking at the economy as a whole.