INTLSTD 101 Lecture Notes - Lecture 14: Good Governance, Donots, Takers
Document Summary
Absolute poverty: to lack basic human needs (food, water, clothes, shelter, healthcare) Relative poverty: to lack socially acceptable level of resources (all depends on your social context) Within absolute poverty: extreme = less than . 25 a day moderate = less than . 00 a day why should we care? moral reasons can be political unstable, can fall into conflict, etc. and these problems tend to spread. Development = a concept with a history , and a set of explanatory theories a set of activities aimed at achieving better lives for people (we are unlikely to accomplish our objectives without understanding history) Beginnings of global economy in colonialism origins of the world capitalist economy portrayed as bringing a better standard of living, benefits criticized as a form of exploitation and oppression. Economic liberalism (response to mercantilism) began in 18th century. Adam smith, david, ricardo minimal state intervention if u protect your domestic market, you might be distorting prices which will slow growth.