Political Economy

Download e-book for iPad: Alternative Strategies for Economic Development by Keith Griffin

By Keith Griffin

ISBN-10: 0230599915

ISBN-13: 9780230599918

ISBN-10: 0333746546

ISBN-13: 9780333746547

The query of other suggestions for financial improvement is the topic of significant controversy and severe debate among practitioners and lecturers all in favour of fiscal and social development within the 3rd international. The middle of this e-book is an research of the six most generally followed ideas of improvement specifically monetarism, the open economic climate, industrialisation, the golf green revolution or agriculture-led improvement, redistributive techniques of improvement and socialist strategies.

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At the other end of the spectrum are a few that embarked upon what Simon Kuznets calls modern economic growth2 at the end of the eighteenth century and these early leaders were joined by many others by the end of the nineteenth century. One of the great puzzles in economic history is why growth began earlier in some countries than in others and why in general growth in the Third World lagged so far behind that in Western Europe and North America. One view is that growth first sprung up in Great Britain and then in other parts of Western Europe, for reasons peculiar to that region, and spread gradually to the rest of the world.

On the other hand, the newly independent countries of the Third World face far more competition in domestic and international markets than the early developers had to face, they suffer absolutely from a great shortage of skills and from the fact that differences in levels of skills between rich and poor countries are much greater now than they were a hundred years ago and, of course, they are attempting to develop long after the era of free international migration has come to an end. One sometimes forgets the extent to which Europe exported her surplus labour to "empty lands" during the industrial revolution of the last century.

Evidently the crisis of the 1970s and 1980s has had a greater 5 impact on growth rates in Latin America than did the long world depression that began in 1913-14. In fact some of thefiguresin column (3) of the Table, while they indicate accurately the average rate of growth, give a misleading picture of the trend. 5 per cent a year per capita) in the quarter century 1950-1975 and then collapsed into negative growth per head for the next 10 years. 3 per cent a year, is thus an average of two very distinct trends.

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Alternative Strategies for Economic Development by Keith Griffin


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