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Import Replacement
Import replacement refers to an urban free market economic process of entrepreneurs replacing the imports of the city with production from within the city. The idea was invented by Jane Jacobs who spun off from the idea of import substitution developed by Andre Gunder Frank and widely discussed during the first and second Latin American debt crisis. Import substitution is a national economic theory implying that if a nation substituted its imports with national production the nation would become wealthier, whereas Jacob's idea is entirely about cities and could be called ''urban import substitution''. However, even this would lead to confusion since, in practice, import substitution in India and Latin America were government subsidized and mandated, whereas Jacobs' concept of import replacement is a free market process of discovery and division of labor The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jane Jacobs
Jane Jacobs (''née'' Butzner; 4 May 1916 – 25 April 2006) was an American-Canadian journalist, author, theorist, and activist who influenced urban studies, sociology, and economics. Her book '' The Death and Life of Great American Cities'' (1961) argued that " urban renewal" and " slum clearance" did not respect the needs of city-dwellers. Jacobs organized grassroots efforts to protect neighborhoods from urban renewal and slum clearance – in particular plans by Robert Moses to overhaul her own Greenwich Village neighborhood. She was instrumental in the eventual cancellation of the Lower Manhattan Expressway, which would have passed directly through an area of Manhattan that later became known as SoHo, as well as part of Little Italy and Chinatown. She was arrested in 1968 for inciting a crowd at a public hearing on that project. After moving to Toronto in 1968, she joined the opposition to the Spadina Expressway and the associated network of expressways in Toront ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Substitution
Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production.''A Comprehensive Dictionary of Economics'' p.88, ed. Nelson Brian 2009. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich ListMehmet, Ozay (1999). ''Westernizing the Third World: The Eurocentricity of Economic Development.'' London: Routledge. and Alexander Hamilton.Chang, Ha-Joon (2002). ''Kicking Away the Ladder: Development Strategy in Historical Perspective.'' London: Anthem Press. ISI policies have been enacted by developing countries with the intention of producing development and self-sufficiency by the creation of an internal market. The state leads economic development by nationalizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andre Gunder Frank
Andre Gunder Frank (February 24, 1929 – April 25, 2005) was a German-American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy, but rejected Marx's stages of history, and economic history generally. Biography Frank was born in Germany to, pacifist writer Leonhard Frank and his second wife Elena Maqenne Penswehr, but his family fled the country when the Nazis came to power. Frank received schooling in several places in Switzerland, where his family settled, until they emigrated to the United States in 1941. Frank's undergraduate studies were at Swarthmore College, founded as a Quaker college from which he gained an Economics degree in 1950. He earned his PhD in economics in 1957 at the University of Chicago. His doctorate was a study of Soviet agriculture entitled ''Growth and Productivity in Ukrainian Agriculture from 1928 to 1955''. Ironically, his dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin American Debt Crisis
The Latin American debt crisis ( es, Crisis de la deuda latinoamericana; pt, Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as ''La Década Perdida'' (The Lost Decade), when Latin American countries reached a point where their foreign debt exceeded their earning power, and they were not able to repay it. Origins In the 1960s and 1970s, many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization, especially infrastructure programs. These countries had soaring economies at the time, so the creditors were happy to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, private banks had an influx of funds from oil-rich countries which believed that sovereign debt was a safe investment. Mexico borrowed against future ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of Labor
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation). Individuals, organizations, and nations are endowed with, or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialised capabilities may include equipment or natural resources as well as skills, and training and combinations of such assets acting together are often important. For example, an individual may specialise by acquiring tools and the skills to use them effectively just as an organization may specialise by acquiring specialised equipment and hiring or training skilled operators. The division of labour is the motive for trade and the source of economic interdependence. Historically, an increasing division of labour is associated with the growth of total output and trade, the rise of capitalism, and the increasing complexity of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Economics
Development economics is a branch of economics which deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels. Development economics involves the creation of theories and methods that aid in the determination of policies and practices and can be implemented at either the domestic or international level. This may involve restructuring market incentives or using mathematical methods such as intertemporal optimization for project analysis, or it may involve a mixture of quantitative and qualitative methods. Common topics include growth theory, poverty and inequality, human capital, and institutions. Unlike in many other fields of economics, approaches in development ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import
An import is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions. History Definition Imports consist of transactions in goods and services to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accounts includes and excludes specific "borderline" cases. Importation is the action of buying or acquiring products or services from another country or another market other than own. Imports are important for the economy because they allow a country to supply nonexistent, scarc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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