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Comparative Development in International Perspective - Lecture_1_Notes

Comparative Development in International Perspective - Lecture_1_Notes

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LECTURE 1: The Meaning of Development I. Course Intro. II. The Era of Development III. Development Defined a) Mainstream View b) Alternative View c) Radical View ____________________________________________________________ I. Course Intro. see syllabus II. The Era of Development The second half of the twentieth century has been called the “era of development.” Although ideas surrounding economic growth and progress have been around for hundreds of years, ever since the Industrial Revolution, the contemporary concept of “development” can be traced back to the end of the Second World War and the international effort to rebuild the war-torn countries of Europe. Marshall Plan: the primary plan of the United States for rebuilding Europe and repelling communism after World War II. The plan was in operation for four years beginning in July 1947. During that period some $13 billion of economic and technical assistance was given to help the recovery of European countries. Much of this financing and advice was given through the World Bank, which was established during this time period. By the time the plan was completed, the economy of every participant state had grown well past pre-war levels and over the following decades many regions of Western Europe would enjoy unprecedented growth and prosperity. The World Bank and the industrialized countries then set their sites on the developing countries.
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