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Capital Fundamentalism Economic Development And Economic Growth
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Book Synopsis Capital Fundamentalism, Economic Development, and Economic Growth by : Robert Graham King
Download or read book Capital Fundamentalism, Economic Development, and Economic Growth written by Robert Graham King and published by World Bank Publications. This book was released on 1994 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should our research and policy advice be guided by a modern version of capital fundamentalism, in which capital and investment are viewed as the primary determinants of economic development and long- run growth? No. Capital accumulation seems to be part of the process of economic development, not its igniting source.
Book Synopsis Capital Fundamentalism, Economic Development, and Economic Growth by : David Grigorian
Download or read book Capital Fundamentalism, Economic Development, and Economic Growth written by David Grigorian and published by . This book was released on 2017 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few economic ideas are as intuitive as the notion that increasing investment is the best way to raise future output. This idea was the basis for the theory quot;capital fundamentalism.quot; Under this view, differences in national stocks of capital were the primary determinants of differences in levels of national product. Capital fundamentalists viewed capital accumulation as central to increasing the rate of economic growth. Evidence to support this view was based mostly on case studies of less developed countries. Neoclassical growth theory and growth accounting research indicated that differences in patterns of investment and capital formation were not the main factors that led nations to be rich or poor, fast-growing or slow. Technology, rather than capital accumulation, appeared to drive improvements in living standards in the long run. Evidence to support this view was based mostly on data from advanced countries. Recent research on growth and development has lent support to two conclusions that capital fundamentalists would find attractive: that differences in national patterns of physical capital accumulation can explain many differences in levels of national product, and that increases in national investment rates can produce major increases in rates of economic growth. The authors find that although the capital-output ratio varies positively with the level of per capita income, there is little support for the view that capital fundamentalism should guide the agenda for research and policy advice. Extending standard growth accounting procedures to a broad sample of 105 countries, they find: 1) differences in capital-per-person explain few of the differences in output-per-person across countries; 2) growth in capital stocks account for little of output growth across countries; and 3) the ratio of investment to Gross Domestic Product is strongly associated with economic growth - but there is more reason to believe that economic growth causes investment and savings than investment and savings cause economic growth.
Book Synopsis Beyond Capital Fundamentalism by : Mauro Boianovsky
Download or read book Beyond Capital Fundamentalism written by Mauro Boianovsky and published by . This book was released on 2017 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The origins of “capital fundamentalism” - the notion that physical capital accumulation is the primary determinant of economic growth - have been often ascribed to Harrod's and Domar's proposition that the rate of growth is the product of the saving rate and of the output-capital ratio. However, neither Harrod nor Domar fit in the “capital fundamentalism” idea. Development planners in the 1950s adapted the growth formula to their own agenda. Most development economists at the time (Lewis, Hirschman, Rostow and others) were aware that Harrod's and Domar's growth models primarily addressed economic instability issues, not long-run growth. Harrod eventually applied his concept of the natural growth rate to economic development. He claimed that the growth of developing economies was determined by their ability to implement technical progress, instead of capital accumulation subject to diminishing returns. Domar observed that the incremental capital-output ratio was more likely a passive result of the interaction between the propensity to save and technological progress, not a causal factor in the determination of growth.
Book Synopsis Capital Accumulation and Economic Development by : Shanti S. Tangri
Download or read book Capital Accumulation and Economic Development written by Shanti S. Tangri and published by . This book was released on 1967 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Resistible Rise of Market Fundamentalism by : Richard Kozul-Wright
Download or read book The Resistible Rise of Market Fundamentalism written by Richard Kozul-Wright and published by Zed Books. This book was released on 2007 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this empirical analysis of the world economy during the past 20 years, two eminent economists put aside the rhetoric surrounding the neoliberal argument and examine what has actually taken place. The book will appeal to students and academics concerned with how globalisation affects poor countries.
Book Synopsis The Cult of the Market by : Lee Boldeman
Download or read book The Cult of the Market written by Lee Boldeman and published by ANU E Press. This book was released on 2007-10-01 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'The Cult of the Market: Economic Fundamentalism and its Discontents' disputes the practical value of the shallow, all-encompassing, dogmatic, economic fundamentalism espoused by policy elites in recent public policy debates, along with their gross simplifications and sacred rules. Economics cannot provide a convincing overarching theory of government action or of social action more generally. Furthermore, mainstream economics fails to get to grips with the economic system as it actually operates. It advocates a more overtly experimental, eclectic and pragmatic approach to policy development which takes more seriously the complex, interdependent, evolving nature of society and the economy. Importantly, it is an outlook that recognises the pervasive influence of asymmetries of wealth, power and information on bargaining power and prospects throughout society. The book advocates a major reform of the teaching of economics"--Provided by publisher.
Book Synopsis Capital Formation and Economic Development by : P. N. Rosenstein-Rodan
Download or read book Capital Formation and Economic Development written by P. N. Rosenstein-Rodan and published by MIT Press (MA). This book was released on 1964 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital and Growth written by John Hicks and published by . This book was released on 1965 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of economic theory of capital and economic growth - includes dynamic economics, growth equilibrium and optimum growth. Mathematical appendices.
Book Synopsis Capital and Collusion by : Hilton L. Root
Download or read book Capital and Collusion written by Hilton L. Root and published by Princeton University Press. This book was released on 2016-06-28 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why does capital formation often fail to occur in developing countries? Capital and Collusion explores the political incentives that either foster growth or steal nations' growth prospects. Hilton Root examines the frontier between risk and uncertainty, analyzing the forces driving development in both developed and undeveloped regions. In the former, he argues, institutions reduce everyday economic risks to levels low enough to make people receptive to opportunities for profit, stimulating developments in technology and science. Not so in developing countries. There, institutions that specialize in sharing risk are scarce. Money hides under mattresses and in teapots, creating a gap between a poor nation's savings and its investment. As a consequence, the developing world faces a growing disconnect between the value of its resources and the availability of finance. What are the remedies for eliminating this disparity? Root shows us how to close the growing wealth gap among nations by building institutions that convert uncertainty into risk. Comparing China to India, Latin America to East Asia, and contemporary to historical cases, he offers lessons that can help the World Bank and the International Monetary Fund to tackle the political incentives that are the source of poor governance in developing nations.
Book Synopsis The Elusive Quest for Growth by : William R. Easterly
Download or read book The Elusive Quest for Growth written by William R. Easterly and published by MIT Press. This book was released on 2002-08-02 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why economists' attempts to help poorer countries improve their economic well-being have failed. Since the end of World War II, economists have tried to figure out how poor countries in the tropics could attain standards of living approaching those of countries in Europe and North America. Attempted remedies have included providing foreign aid, investing in machines, fostering education, controlling population growth, and making aid loans as well as forgiving those loans on condition of reforms. None of these solutions has delivered as promised. The problem is not the failure of economics, William Easterly argues, but the failure to apply economic principles to practical policy work. In this book Easterly shows how these solutions all violate the basic principle of economics, that people—private individuals and businesses, government officials, even aid donors—respond to incentives. Easterly first discusses the importance of growth. He then analyzes the development solutions that have failed. Finally, he suggests alternative approaches to the problem. Written in an accessible, at times irreverent, style, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
Book Synopsis The Spirit of Capitalism and Long-run Growth by : Heng-fu Zou
Download or read book The Spirit of Capitalism and Long-run Growth written by Heng-fu Zou and published by World Bank Publications. This book was released on 1991 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the long run, cultural attributes and the spirit of capitalism help explain why Japan, the four Asian "miracles, " and many countries with Protestant religion have succeeded economically.
Book Synopsis Growth Without Inequality by : Henry K. H. Woo
Download or read book Growth Without Inequality written by Henry K. H. Woo and published by Taylor & Francis. This book was released on 2017-03-27 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many years on after the 2007-8 financial crisis, most developed nations still find themselves in a state of weak recovery, high debt pile-up and distributive disparity. This book attempts to address this issue and to provide a pragmatic solution. By offering a unified framework of factors that drive growth, it shows how growth also gives rise to an array of ‘anomalous market forms’ that subvert distributive equity between labour and capital. It debunks both the pure free market solution and the mixed economy approach on the ground that they fail to arrest the growth-propelling yet subversive power inherent in the ‘corporate forms’ under the present capitalistic regime.
Book Synopsis Capital Flows and Economic Growth in a Small Open Economy by : Thuy Dao
Download or read book Capital Flows and Economic Growth in a Small Open Economy written by Thuy Dao and published by . This book was released on 1999 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Growth and Empowerment by : Nicholas Stern
Download or read book Growth and Empowerment written by Nicholas Stern and published by MIT Press. This book was released on 2006-08-11 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite significant gains in promoting economic growth and living conditions (or "human progress") globally over the last twenty-five years, much of the developing world remains plagued by poverty and its attendant problems, including high rates of child mortality, illiteracy, environmental degradation, and war. In Growth and Empowerment, Nicholas Stern, Jean-Jacques Dethier, and F. Halsey Rogers propose a new strategy for development. Drawing on many years of work in development economics—in academia, in the field, and at international institutions such as the World Bank—the authors base their strategy on two interrelated approaches: building a climate that encourages investment and growth and at the same time empowering poor people to participate in that growth. This plan differs from other models for development, including the dogmatic approach of market fundamentalism popular in the 1980s and 1990s. Stern, Dethier, and Rogers see economic development as a dynamic process of continuous change in which entrepreneurship, innovation, flexibility, and mobility are crucial components and the idea of empowerment, as both a goal and a driver of development, is central. The book points to the unique opportunity today—after 50 years of successes and failures, and with a growing body of analytical work to draw on—to pursue new development strategies in both research and action.
Book Synopsis Capital Accumulation and Economic Development by : Shanti S Tangri
Download or read book Capital Accumulation and Economic Development written by Shanti S Tangri and published by . This book was released on 1967 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Development Redefined by : Robin Broad
Download or read book Development Redefined written by Robin Broad and published by Routledge. This book was released on 2015-12-03 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rejecting the "flat worldism" of the globalists as well as the peaks and valleys of trade and aid policies over the years, Robin Broad and John Cavanagh guide us through the raging debate over the best route to development for the poorer nations of Africa, Asia, and Latin America. This book takes readers on a journey through the rise and fall of the one-size-fits-all model of development that richer nations began imposing on poorer ones three decades ago. That model-called the "Washington Consensus" by its backers and "neoliberalism" or "market fundamentalism" by its critics-placed enormous power in markets to solve the problems of the poor. The authors have stood at the epicenter of these debates from their perches in the United Nations, the U.S. government, academia, and civil society. They guide us back in time to understand why the Washington Consensus dominated for so long, and how it devastated workers, the environment, and the poor. At the same time, they chart the rise of an "alter-globalization" movement of those adversely affected by market fundamentalism. Today, this movement is putting alternatives into action across the globe, and what constitutes development is being redefined. As the authors present this dramatic confrontation of paradigms, they bring into question the entire conventional notion of "development," and offer readers a new lens through which to view the way forward for poorer nations and poorer people. This brief history of development connects an arcane world with contemporary forces of globalization, environmental degradation, and the violation of perhaps the essential human right: to be considered individually, equally, in an economically viable world and way.
Book Synopsis Financial Development and Economic Growth by : Arnold W. Sametz
Download or read book Financial Development and Economic Growth written by Arnold W. Sametz and published by . This book was released on 1972 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt:
