Failure assumes that technological change is exogenous Core Values of

Failure assumes that technological change is

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Failure: assumes that technological change is exogenous Core Values of Development 1. Sustenance (ability to meet basic needs) 2. Self-esteem (to be a person) 3. Freedom from servitude (to be able to choose) Factors that may contribute to lack of progress of a country: 1. Weak agriculture sector 2. Growth that is primarily based on consumption 3. High population growth 4. Income inequality 5. Inability of govt to provide sufficient basic services 6. Vulnerability of poorer communities to natural disasters and civil unrest Issues in Economic Development 1. Population Growth 2. Food shortages 3. Third world debt Two major sources of loans by countries: 1. International monetary fund: primary goals are to stabilize international exchange rates and to lend money to countries that have problems financing their international transactions 2. World bank: international agency that lends money to individual countries for projects that promote economic development
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