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POLI 227 (58)
Chapter 10

Chapter 10: The Political Economy of Third World Development

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Political Science
POLI 227
Rex J Brynen

Chapter 10 The Political Economy of Third World Development Economic growth coupled with reasonably equitable income distribution offers the promise of improved living standards Political economy how politics deter aspects of the economy and how the economic institutions determine the political process The Role of the State In many developing areas the government is forced to play a large part in the economy as the private sector cannot supply its needs The Command Economy Two central features 1 State largely owns and manages the means of production 2 State planners shape basic decisions governing productionCommand economies have frequently made great strides toward reducing income inequalitiesFeature a large privileged class of state and party bureaucratsCommand economies are more adept at building heavy industries such as steel mills or public works projects than they are at developing sophisticated high tech production techniquesMarket socialism a mixture of free market and socialist economics Latin American StatismLatin American nations first pursued stateled industrializationLeft most economic activity in the
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