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Orthodox Development
The Orthodox Development view equates economic growth with 'development'. The gross national product of a country has continually been used by intergovernmental organisations such as the UN, to equate their economical stance to their level of 'development'. This approach to human progress has been critiqued consistently throughout its history, especially by economists such as Dambisa Moyo, with the main criticisms being that the approach is ethnocentric and one-dimensional. During the 1950s and 1960s as decolonisation progressed, the focus of the World Bank and the UN system generally shifted to the perceived needs of developing countries. There was widespread belief in the developed Western countries, such as the United States and the United Kingdom, among the managers of the major multilateral institutions, such as the European Union, and throughout the UN system, that 'Third World' states were economically 'backward' and needed to be 'developed'. This process would require inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross National Product
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents. Comparing GNI to GDP shows the degree to which a nation's GDP represents domestic or international activity. GNI has gradually replaced GNP in international statistics. While being conceptually identical, it is calculated differently. GNI is the basis of calculation of the largest part of contributions to the budget of the European Union. In February 2017, Ireland's GDP became so distorted from the base erosion and profit shifting ("BEPS") tax planning tools of U.S. multinationals, that the Central Bank of Ireland replaced Irish GDP with a new metric, Irish Modified GNI (or "GNI*"). In 2017, Irish GDP was 162% of Irish Modified GNI. Comparison of GNI and GDP \mat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dambisa Moyo
Dambisa Felicia Moyo, Baroness Moyo (born 2 February 1969)Moyo showed a copy of an official document with her date and place of birth as part of a lecture she gave at TEDGlobal 2013, Edinburgh, Scotland. is a Zambian-born economist and author, known for her analysis of macroeconomics and global affairs. She has written five books, including four ''New York Times'' bestsellers: ''Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa'' (2009), ''How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead'' (2011), ''Winner Take All: China's Race for Resources and What It Means for the World'' (2012), '' Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It'' (2018), and ''How Boards Work: And How They Can Work Better in a Chaotic World'' (2021). Early life and education Moyo was born in 1969 in Lusaka, Zambia.Moyo, Dambisa"Preface". Excerpted from ''DEAD AID: Why Aid Is Not Working and How ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethnocentrism
Ethnocentrism in social science and anthropology—as well as in colloquial English discourse—means to apply one's own culture or ethnicity as a frame of reference to judge other cultures, practices, behaviors, beliefs, and people, instead of using the standards of the particular culture involved. Since this judgment is often negative, some people also use the term to refer to the belief that one's culture is superior to, or more correct or normal than, all others—especially regarding the distinctions that define each ethnicity's cultural identity, such as language, behavior, customs, and religion. In common usage, it can also simply mean any culturally biased judgment. For example, ethnocentrism can be seen in the common portrayals of the Global South and the Global North. Ethnocentrism is sometimes related to racism, stereotyping, discrimination, or xenophobia. However, the term "ethnocentrism" does not necessarily involve a negative view of the others' race or indicate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Shikwati
James Shikwati (born 1970) is a Kenyan libertarian economist and Director of the Inter Region Economic Network who promotes freedom of trade as the driving solution to poverty in Africa. He has made comments which imply that aid towards Africa does more harm than good to their people, based on the central arguments that it is mainly used either by politicians as a tool to manipulate people and influence votes, or as a mechanism for dumping subsidised foreign agricultural products onto local markets at below cost making it nearly impossible for African farmers to compete. Education A graduate from the University of Nairobi (B.ED Arts 1994), attended Musingu High School (1989) and taught Kiptewit High School (1994–2001) in Kericho Rift Valley province in Kenya. He is a "self taught" economist. Philosophy Shikwati is a writer and a commentator on public policy with a special interest in development, environment, trade and agriculture related issues. He has written widely on a va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walt Whitman Rostow
Walt Whitman Rostow (October 7, 1916 – February 13, 2003) was an American economist, professor and political theorist who served as National Security Advisor to President of the United States Lyndon B. Johnson from 1966 to 1969. Rostow worked in the Office of Strategic Services during World War II and later was a foreign policy adviser and speechwriter for presidential candidate and then President John F. Kennedy; he is often credited with writing Kennedy's famous "New Frontier" speech.Walt Rostow obituary , 24 February 2003 Prominent for his role in shaping |
Rostovian Take-off Model
Rostow's stages of economic growth model is one of the major historical models of economic growth. It was published by American economist Walt Whitman Rostow in 1960. The model postulates that economic growth occurs in five basic stages, of varying length: # The traditional society # The preconditions for take-off # The take-off # The drive to maturity # The age of high mass-consumption Rostow's model is one of the more structuralist models of economic growth, particularly in comparison with the "backwardness" model developed by Alexander Gerschenkron, although the two models are not mutually exclusive. Rostow argued that economic take-off must initially be led by a few individual economic sectors. This belief echoes David Ricardo's comparative advantage thesis and criticizes Marxist revolutionaries' push for economic self-reliance in that it pushes for the "initial" development of only one or two sectors over the development of all sectors equally. This became one of the impo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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