Stucturalism Flashcards
What is the core argument of structuralism?
LDCs have fundamentally different economic structures (e.g., supply-side constraints, institutional weaknesses, reliance on primary exports) that make orthodox policies ineffective. Structuralism emphasizes addressing these unique challenges.
How does structuralism critique IMF policies?
IMF’s demand-side policies (e.g., austerity, devaluation) worsen stagflation (high unemployment + inflation), fail to boost exports (due to inelastic demand for primary goods), and increase hardship through cuts to social programs.
What was the focus of structurlaism for LDCs?
Addressing supply-side constraints (e.g., poor infrastructure, low technology) to enable long-term growth and reduce dependency on primary exports.
What is structuralism?
Structuralism argues that LDCs require customized policies to address their unique challenges, rather than one-size-fits-all solutions like IMF prescriptions. is an economic theory that emphasizes the unique challenges faced by LDCs. It critiques orthodox macroeconomic approaches (e.g., IMF policies) for ignoring these structural differences and proposes tailored solutions for LDCs.
