Danny Quah On Market-Driven Development Flashcards
1
Q
What is market led development built on (Danny Quah)
A
Appropriate incentives
Private property
Stable macro environment
2
Q
What is development (Danny Quah)
A
The process of empowering people to give them capacity to pursue goals to improve their well-being, environment and destiny
3
Q
What does empowerment require (Danny Quah)
A
Putting capital and labour together to create products in markets that add value
4
Q
What country has a market based economy
A
China
5
Q
Benefits of China becoming a market-based economy
A
Over 600 million bought out of poverty
6
Q
Disadvantages of a market economy (Danny Quah)
A
Social injustice
Rising inequality
Power of elites enjoying monopoly profits
