Conclusion Summary

Conclusion Summary - Conclusion Summary Evidence of incredible development throughout the last century In the early 20th century there was nearly

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Conclusion Summary Evidence of incredible development throughout the last century - In the early 20 th century, there was nearly no foreign travel; - Self-sufficient economies, little trade; - Little or no technology available; - Many parts of the world still undiscovered; - No evidence of global warming, population explosion or food & resources scarcity; - Western dominated world By now we have experienced many changes - Still Western dominant, however, likely that the Asian world takes over (China = becomes biggest economy?) - Several (Asian) countries catching up to becoming developed countries - Only Sub-Saharan Africa remains low-developed - Globalization influence o Internet o Travel - Environmental consciousness; knowledge of extreme poverty within the Third World After adapting all kind of development theories and approaches, it is still unsure which one is in fact the most effective one, as none of them has fully succeeded. - Postwar period: o Keynesian approach: The state should intervene in the market; however, this was not successful, and ended in 1970 o Neoclassical theory: State should intervene less in the market, and rather apply the laissez-faire strategy in order to achieve a free market economy. Again, although partially successful, it did not fully satisfy. o Shortly the general development debate seemed to reach a dead end, as it has become increasingly evident that the latest development aid-models have not been successful. Now neoclassical economists are approaching a new model that is more people-focused and equitable. Can Development Models Be Universalized? - Or in other words: Are humans fundamentally alike? - E.G. neoclassical approach states that all humans are rational utility maximizers o This has been questioned widely, e.g. in postmodern strains of thought, arguing that everything is only relevant to its contexts, which differs from place to place. o Cultures differ from territory to territory (Concluding, capitalism, for instance, can only be implied onto certain countries and their cultures, and not everywhere) o Some cultures tend to development (values of thrift, hard work, production of
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This note was uploaded on 08/26/2010 for the course IDS 200 taught by Professor Pushkar during the Fall '10 term at McGill.

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Conclusion Summary - Conclusion Summary Evidence of incredible development throughout the last century In the early 20th century there was nearly

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