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Development Theory
Development theory is a collection of theories about how desirable change in society is best achieved. Such theories draw on a variety of social science disciplines and approaches. In this article, multiple theories are discussed, as are recent developments with regard to these theories. Depending on which theory that is being looked at, there are different explanations to the process of development and their inequalities. Modernization theory Modernization theory is used to analyze the processes in which modernization in societies take place. The theory looks at which aspects of countries are beneficial and which constitute obstacles for economic development. The idea is that development assistance targeted at those particular aspects can lead to modernization of 'traditional' or 'backward' societies. Scientists from various research disciplines have contributed to modernization theory. Sociological and anthropological modernization theory The earliest principles of moder ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theory
A theory is a systematic and rational form of abstract thinking about a phenomenon, or the conclusions derived from such thinking. It involves contemplative and logical reasoning, often supported by processes such as observation, experimentation, and research. Theories can be scientific, falling within the realm of empirical and testable knowledge, or they may belong to non-scientific disciplines, such as philosophy, art, or sociology. In some cases, theories may exist independently of any formal discipline. In modern science, the term "theory" refers to Scientific theory, scientific theories, a well-confirmed type of explanation of nature, made in a way Consistency, consistent with the scientific method, and fulfilling the Scientific theory#Characteristics of theories, criteria required by modern science. Such theories are described in such a way that scientific tests should be able to provide Empirical evidence, empirical support for it, or Empirical evidence, empirical contradi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings Rate
Saving is income not spent, or deferred consumption. In economics, a broader definition is any income not used for immediate consumption. Saving also involves reducing expenditures, such as recurring costs. Methods of saving include putting money in, for example, a savings account, a pension account, an investment fund, or kept as cash. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher. Saving does not automatically include interest. ''Saving'' differs from ''savings''. The former refers to the act of not consuming one's assets, whereas the latter refers to either multiple opportunities to reduce costs; or one's assets in the form of cash. Saving refers to an activity occurring over time, a flow variable, whereas savings refers to something that exists at any one time, a stock variable. This distinction is often misunderstood, and even professional economists and in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Push Model
The Big Push Model is a concept in development economics or welfare economics that emphasizes the fact that a firm's decision whether to industrialize or not depends on the expectation of what other firms will do. It assumes economies of scale and oligopolistic market structure. It also explains when the industrialization would happen. The major contributions to the concept of the Big Push were made by Paul Rosenstein-Rodan in 1943 and later on by Murphy, Shleifer and Vishny in 1989. Also, some contributions of Matsuyama (1992), Krugman (1991) and Romer (1986) proved to be seminal for later literature on the Big Push. Analysis of this economic model usually involves using game theory. The hallmark of the ‘big-push’ approach lies in the reaping of external economies through the simultaneous installation of a host of technically interdependent industries. But before that could become possible, we have to overcome the economic indivisibilities by moving forward by a certa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kurt Mandelbaum
Kurt Mandelbaum (13 November 1904 – 28 September 1995), also known as Kurt Martin and Curt Martin, was a German-British economist known for his pioneering contribution in the field of the economics of development. In his youth Mandelbaum was involved with leftist politics and had several years at the Frankfurt School for Social Research. During the war worked with allied intelligence and subsequently joined the Oxford Institute of Statistics. Whilst at Oxford he undertook his study of the problems of recovery in S.E. Europe. This small book which was to become one of core texts for the new discipline, stressed * the need to mobilize savings, * the need for infrastructure, * the extent of disguised rural unemployment, * the need for calculating inter-industry calculations (anticipating the use of input-output analysis). In 1950 he moved to Manchester and with his colleague W. Arthur Lewis helped establish the Department of Economics at the University of Manchester as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ragnar Nurkse
Ragnar Wilhelm Nurkse (5 October 1907, Käru, Estonia – 6 May 1959, Le Mont-Pèlerin, Switzerland) was an Estonian-American economist and policy maker mainly in the fields of international finance and economic development. He is considered the pioneer of Balanced Growth Theory. Life Ragnar Nurkse was born in Käru village, in the then Governorate of Livonia of the former Russian Empire (now in Järva County, Estonia), son of an Estonian father who worked himself up from lumberjack to estate manager, and an Estonian-Swedish mother. His parents emigrated to Canada in 1928. After finishing primary school, Nurkse attended the '' Domschule zu Reval'' in Tallinn, the most prestigious, German-language secondary school in the city, from where he graduated with higher honors in 1926. He continued his education at the law and economics' departments of the University of Tartu in 1926–1928, and then in economics at the University of Edinburgh. He graduated with a first class degree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Rosenstein-Rodan
Paul Narcyz Rosenstein-Rodan (1902–1985) was an economist of Jewish origin born in Kraków, who was trained in the Austrian tradition under in Vienna. His early contributions to economics were in pure economic theory – on marginal utility, complementarity, hierarchical structures of wants and the pervasive Austrian School issue of time. Rosenstein-Rodan emigrated to Britain in 1930, and taught at University College London and then at London School of Economics until 1947. He then moved to the World Bank, before moving on to MIT, where he was a professor from 1953 to 1968. He is the author of the 1943 article "Problems of Industrialisation of Eastern and South-Eastern Europe" – origin of the " Big Push Model" theory – in which he argued for planned large-scale investment programmes in industrialisation in countries with a large surplus workforce in agriculture, in order to take advantage of network effects, viz economies of scale In microeconomics, economies of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Structures
In the social sciences, social structure is the aggregate of patterned social arrangements in society that are both emergent from and determinant of the actions of individuals. Likewise, society is believed to be grouped into structurally related groups or sets of roles, with different functions, meanings, or purposes. Examples of social structure include family, religion, law, economy, and class. It contrasts with "social system", which refers to the parent structure in which these various structures are embedded. Thus, social structures significantly influence larger systems, such as economic systems, legal systems, political systems, cultural systems, etc. Social structure can also be said to be the framework upon which a society is established. It determines the norms and patterns of relations between the various institutions of the society. Since the 1920s, the term has been in general use in social science, especially as a variable whose sub-components needed to be dist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxism
Marxism is a political philosophy and method of socioeconomic analysis. It uses a dialectical and materialist interpretation of historical development, better known as historical materialism, to analyse class relations, social conflict, and social transformation. Marxism originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. Marxism has developed over time into various branches and schools of thought, and as a result, there is no single, definitive " Marxist theory". Marxism has had a profound effect in shaping the modern world, with various left-wing and far-left political movements taking inspiration from it in varying local contexts. In addition to the various schools of thought, which emphasize or modify elements of classical Marxism, several Marxian concepts have been incorporated into an array of social theories. This has led to widely varying conclusions. Alongside Marx's critique of political economy, the defining cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walt W
Walt is a masculine given name, generally a short form of Walter, and occasionally a surname. Notable people with the name include: People Given name * Walt Anderson (American football) (born 1952), American football official * Walt Arfons (1916-2013), American drag racer and competition land speed record racer * Walt Bellamy (1939-2013), American National Basketball Association player, two-time Basketball Hall of Fame inductee * Walt Bellamy (ice hockey) (1881-1941), Canadian hockey player * Walter Blackman (born 1965/1966), American member of the Arizona House of Representatives * Walt Bowyer (born 1960), American National Football League player * Walt Brown (politician) (born 1926), American politician * Walt Clago (1899-1955), American football player * Walt Conley (1929–2003), American singer * Walt Corey (1938–2022), American National Football League player * Walt Disney (1901–1966), American film producer, director, screenwriter, voice actor, animator, entrepr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rostow's Stages Of Growth
The Rostovian take-off model (also called "Rostow's Stages of Growth") is one of the major historical models of economic growth. It was developed by W. W. Rostow. The model postulates that economic modernization occurs in five basic stages, of varying length. # Traditional society # Preconditions for take-off # Take-off # Drive to maturity # Age of High mass consumption Rostow asserts that countries go through each of these stages fairly linearly, and set out a number of conditions that were likely to occur in investment, consumption and social trends at each state. Not all of the conditions were certain to occur at each stage, however, and the stages and transition periods may occur at varying lengths from country to country, and even from region to region. Rostow's model is one of the more structuralist models of economic growth, particularly in comparison with the ' backwardness' model developed by Alexander Gerschenkron. The two models are not necessarily mutually exclus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
