[DVM1100] - Midterm Exam Guide - Ultimate 48 pages long Study Guide!

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The process of a country getting richer, healthier, long-lived and more literate is often referred to as (cid:862)de(cid:448)elop(cid:373)e(cid:374)t(cid:863) Mainstream theory economic development/economic growth theory/modernization theory. Modernizationism stresses the long-run benefits of investments in people (health and education), infrastructure (roads, railways, electrical grids, telecommunications networks, sewer and water), and the adoption of improved technologies for higher productivity. Neo-liberals (current conservatives have similar views) emphasizes positive role of private enterprise and free markets/capitalism and they focus on profit. Neo-institutionalists stresses importance of institutions (the formal and informal rules and customs that govern human behaviour). Economic nationalism ca(cid:374)ada"s e(cid:272)o(cid:374)o(cid:373)(cid:455) has (cid:271)ee(cid:374) (cid:271)uilt a(cid:396)ou(cid:374)d p(cid:396)odu(cid:272)i(cid:374)g staple p(cid:396)odu(cid:272)ts fo(cid:396) e(cid:454)port. Development depends on: human rights and freedom democracy. A combination of endogenous and exogenous factors. The theo(cid:396)(cid:455) (cid:271)e(cid:272)a(cid:373)e tightl(cid:455) asso(cid:272)iated (cid:449)ith the st(cid:396)ategi(cid:272) a(cid:374)d high politi(cid:272)s go(cid:448)e(cid:396)(cid:374)i(cid:374)g the cold wa(cid:396)"s ideological and strategic rivalry between the west and the communist world.