debates and interpretations about development

Question 1

debate 1: differing strategies for poverty alleviation

Answer 1

= neo liberal economic approach/washington consensus
aim 1: should be eco growth
how: based on the priciple that trade liberalisation finance and investmnet maximise global welfare adopted by the wb imf and us govt
market becomes the major engine of growth and associated development=free market economics

Question 2

debate 1: Washington consensus policies

Answer 2

-fiscal discipline=low govt borrowing
- tax reform
-a competitive exchange rate
-trade liberalization
secure property rights
- a redirction of public expenditire priorities towards fields offering both high eco returns and the potential to improve income distribution eg health care

Question 3

debate 1: implications+ criticisms of washington consensus

Answer 3

-supp of free trade through wto= reduce tarrif barriers
- imf bailouts tended to improve free market reforms as a condition of receiving money
- belief in free trade suggests countries should specilsie in g+s where they have a compartative advantage. this may mean developing ecos need to stick with producing products

1. lowering govt spending can lead to a rduction in welfare programs= increase in pov
2. free trade is not always in the best intersts of developing ecos-makes it diff for them to compete in high end production leaves them focussing on primary products
3. privatisation= comapnies persue profit instead of wider social objective

Question 4

debate 1: stiglits arguement

Answer 4

east asia kept a wary distance from imf
latin america followed the washington consensus polices to the letter

Question 5

debate 1: stockholm consensus

Answer 5

est in 2016 by 13 economists incl stiglitz
sest 8 principles for development for policy making
-on the premise that the washington consensus is outdated and has been responsible for crises of rising inequality and enviromental degradation
=gdp growt is not an end itself: wellbeing is multidimensional and policy should tf aim for a variety of goods not just income
- development must be inclusive=socially and eco sustainable form of developmeny
- enviromental protection is a requirement protecing the enviroment should be central objective of policymakers
-balencing market state and community markets and social institions that need to be regulated

Question 6

debate 1 :principles of stockholm consensus

Answer 6

1. gdp growth is not end in itself- gdp growth needs to be focussed as a means to achive socital objectives of improved health and education employment security and consumption
2. development has to be inclusive x leave behind any group need to watch gap bw rich and poor
3. enviromental sustainablity is a requirement not a option needs to be a central objective
4. needs a balence bw market state and community+ all 3 need to be regulated
5. long term macroeconomic stability is key need public investment to build infrastrure stabilises the eco in the long term
6. polices need to the impact of the global tech and inequality
7. social norms matter tf poverty reduction strats need to be tailored to specfic societal values
8. global polices are pivotal framework for trade migration

Question 7

debate 2: economic growth versus sustainable development

Answer 7

central question- should the priority of development policy be economic or inter and intra generational equity ensuring that development does not come at a cost of development
ECONOMIC GROWTH
benefits= increased growth= increased employment= increased quality of lfe
eco growth is necessary bc it allows the community to consume more goods and servies and also helps to ensure a larger quanity of g+s leading to increased s.o.l

Question 8

debate 2: sustainable development background

Answer 8

in 1983 the un set up the world commision on enviroment and development which reported in 1987 the brundtland report
coined the concept of sustainable development argued that eco growth was necessary but not at a cost to future generations
need to reduce the amount of natural resouces and energy consumed per unit of gdp

the brundtland report also called for intra and inter generational equity noting that communities that are impoverished are often forced to utilse their enviroment in unsustainable ways
argues for development that take into account that enviromental impacts in the long term and a states ability to support itself over time

Question 9

debate 2: arguments against sustainable development

Answer 9

paradoxical relationship bw eco growth and enviroemntal quality further growth increases societal cpacity to respond to enviromental degradatioj but alos increases enviromental degradation

argued that sustainable development is putting limits on the ability of developing world to develop and condns the developing world to poverty, inequality and subsistence existance= limuts on them that did not exist for developed world
claimed sustainable development is being used by states to ensure their contiued advantage over developing states