INTD 200 Chapter Notes -Monetarism, Moral Authority, Capital Formation

• School: McGill University
• Department: International Development
• Course: INTD 200
• Professor: Warren Allmand

Document Summary

40s/50s. modernization industrialization/urbanization => capital investment is the most important ingredient in eco growth/dev. Vicious circle: the capital should from abroad (governments/intl organization) come. Most important elements = capital formation (tech pop, resources, monetary/fiscal policies/ indus/ agr development, commerce, trade). + cultural considerations (education, need to foster modern cultural values) + need to create adequate institutions : itl org (wbk/mfi + un tech agencies)//national planning agencies (latin america, alliance for progress. Combination/study/gradual elaboration + intro of new ideas / effect of new itl organization. +systematization of these elements to form a whole. Dvpt = sets the rules that must be followed for problems/theories/objects to emerge. Objects : stood out clearly (poverty etc) + others introduced in surreptitious way (ethnic, cultural factors associed with backwardness) Principles of authority in action : role of experts, institutions (un legal moral authority), gvmt of poor countries (legal authority over their subjects), leadership of rich countries (power knowledge and experience). elaborated.