Growth and Development Theories

Growth and Development Theories - Growth and development...

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Unformatted text preview: Growth and development: the theories Professor Leticia Arroyo Abad September 15th, 2009 M althusian economy 30,000 in 1990 International Geary-Khamis dollars The question(s) QuickTime ™ and a decompressor are needed to see this picture. 25,000 20,000 15,000 10,000 5,000 0 1870 What happened? What is/are the determinant(s) that explain the great divergence? QuickTime™ and a decompressor are needed to see this picture. QuickTime ™ and a decompressor are needed to see this picture. QuickTime ™ and a decompressor are needed to see this picture. QuickTime ™ and a decompressor are needed to see this picture. 1890 1910 1930 1950 1970 1990 Guns, Germs, and Steel Jared Diamond The question • Why did wealth and power become distributed as they are now and not in other way? The answers • • • • Biological differences Genes Climate Other factors that enabled conquest Diamond’ s answer • Interaction with the environment key to explain human wealth and success • Societies are similar in abilities but constrained by local environment Eurasian advantage • Seeds and cattle • Germs • Technology Factors East-West Axis Plants & Animals: distribution Seeds, distribution worldwide Source: Diamond (1997), p. 140 Domesticated animals Source: Diamond (1997), p. 162 Epidemics “ Inherited” germs Source: Diamond (1997), p. 207 Critiques • Much of economic history is a game against nature • Environments can be manipulated and abandoned • Much technology emerges precisely because the environment is not generous and requires hard work and ingenuity M althus meets Darwin: the survival of the richest Gregory Clark The main ideas • Natural selection • Survival process favored some types of i ndividuals over others • Economic success Reproductive success • Downward nature of social mobility (contrast with the modern world) Surviving children by assets of the testator M althusian scissors ...
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This note was uploaded on 04/19/2010 for the course ECON 0430 taught by Professor Arroyoabad during the Fall '10 term at Middlebury.

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