INTD200-Lectures2-3-TheoriesDevelopment

INTD200-Lectures2-3-TheoriesDevelopment -...

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Theories of Development 2 meanings of development have been influential since the unofficial birth  of development studies in the post-WWII era (official birth came only in the  1960s with the founding of the Institute of Development Studies at the  University of Sussex): 1) Economic growth/development centered; and 2) Human development / social justice centered. The economic growth paradigm was dominant from the 1940s until the  1970s, when people-centered meanings challenged its hegemony;  Thereafter, while the relevance of economic growth has not disappeared, it  is commonly agreed that the goal of economic growth is to improve the lives  of people which is not necessarily the same thing as improving the wealth of  a nation i.e. while a nation may experience economic growth, this may not  improve the lives of the majority of its people—economic growth is  necessary but not sufficient for human development Main theories that have been put forward to achieve development—we  briefly discussed the writings of Adam Smith and Karl Marx—Smith’s ideas  are associated with the market-oriented approach to wealth creation whereas  1
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for Marx, the market-based logic of capitalism cannot be sustained because  of the economic inequalities it breeds—a communist revolution is inevitable  in countries where marked-based growth has succeeded most because it  creates a large majority of losers in workers—there are 2 other pre-WWII  thinkers whose ideas are immensely important to development theory in the  post-WWII era: 1. List, a German writing in the late 19 th  century; and 2. Keynes, a British economist writing in the 1930s Not to say that contributions by other economists and intellectuals are not  pertinent but that to get a handle post-WWII development theory, these four —Smith, Marx, List, and Keyes—are perhaps crucial Friedrich List is associated with the infant industry model (IIM)—his  understanding was that all nation states were not equal at any given time— so for example, while Britain and some European countries had proceeded  far on the path of industrialization, others were still behind—the more  advanced states held an advantage over others and therefore Smith’s idea of  a free market economic system unhindered by the national state would favor  the strong over the weak and allow them to dominate—therefore, List  reasoned that the weak needed to protect and nurture their industries and  2
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their economy in general until they had ‘caught up’ with the strong—once  the international economic system was made up of approximate equals, free  trade was going to work well for everyone and not just the strong states—
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This note was uploaded on 10/09/2010 for the course INTD 200 taught by Professor .. during the Fall '09 term at McGill.

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INTD200-Lectures2-3-TheoriesDevelopment -...

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