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Pathways to Economic Development
This short, concise work examines alternative paths to economic development-with special reference to the Indian context-from a broad general perspective that relies on theoretical analysis and historical, contemporary development experience, simplified for the non-specialist reader. It first examines alternative meanings of development, distinguishing between the growth of income and production, poverty and distributional issues, happiness, and human functionings and capabilities, and assesses India's performance in terms of these alternative indicators. The book also analyses the main obstacles to economic development that have been identified by development scholars and practitioners, distinguishing between domestic economic factors (such as low levels of domestic saving and investment, inefficiency and stagnant technology, and poverty and inequality), international factors (such as international trade, investment and technology transfers), and non-economic factors (such as
historical, political, cultural and social). Finally, it discusses the main strategies for economic development, reviewing debates about the roles of free market and the state, autarkic and open economy approaches, a focus on growth versus a focus on distribution and human development, among others, while arguing against a doctrinaire neoliberal strategy and favouring a balanced approach that pays careful attention to country and time-specific factors.
historical, political, cultural and social). Finally, it discusses the main strategies for economic development, reviewing debates about the roles of free market and the state, autarkic and open economy approaches, a focus on growth versus a focus on distribution and human development, among others, while arguing against a doctrinaire neoliberal strategy and favouring a balanced approach that pays careful attention to country and time-specific factors.
200 pages, Paperback
First published September 4, 2014
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Displaying 1 of 1 review
April 4, 2017
4.5 stars
Quite comprehensive coverage of development in the context of LDC's.
starts with the basics- how to conceptualize about development= wht is development(per ca-pita income, social sector,human capabilities,happiness),should it be individual/group centrist?. The not so necessary correlation between more income & HDI is shown empirically eg. Bangladesh, Sri lanka outperform India in social indicators( life expectancy,health).
The writer then discusses some barriers to development( domestic & international). domestic includes environmental degradation, less savings & investment, huge population burden, etc. internationally, there is two edged sword of FDI, labor migration, international trade, trade organizations,IPR. There is also interesting section on non-economic factors to development like diamond's geography, Weber's protestant ethics, institutions like property rights, historical experiences like colonization. clear cut-demarcation between these factors is not possible.
The last section discusses different strategies for development. the debates of growth vs equity, industrialization vs agriculture, state vs market, macro vs micro policies r considered with middle path approach.for eg. we need growth to increase employment complemented with skill development & healthcare for the labor force.
overall, worth reading, thinking & getting caught in dilemmas unlike the neoclassical textbooks eulogizing infinite growth.
Quite comprehensive coverage of development in the context of LDC's.
starts with the basics- how to conceptualize about development= wht is development(per ca-pita income, social sector,human capabilities,happiness),should it be individual/group centrist?. The not so necessary correlation between more income & HDI is shown empirically eg. Bangladesh, Sri lanka outperform India in social indicators( life expectancy,health).
The writer then discusses some barriers to development( domestic & international). domestic includes environmental degradation, less savings & investment, huge population burden, etc. internationally, there is two edged sword of FDI, labor migration, international trade, trade organizations,IPR. There is also interesting section on non-economic factors to development like diamond's geography, Weber's protestant ethics, institutions like property rights, historical experiences like colonization. clear cut-demarcation between these factors is not possible.
The last section discusses different strategies for development. the debates of growth vs equity, industrialization vs agriculture, state vs market, macro vs micro policies r considered with middle path approach.for eg. we need growth to increase employment complemented with skill development & healthcare for the labor force.
overall, worth reading, thinking & getting caught in dilemmas unlike the neoclassical textbooks eulogizing infinite growth.
Displaying 1 of 1 review