Theories of International Development Flashcards
What is the linkage of international development to imperialism and colonialism
Role of industrial revolution (driver of expansionist Europe and accelerated gap between haves/have nots)
Capitalist reorganization of society (production organized onto discrete units of labour material and capital and internationalized throughout pursuit of labour markets and resources)
Transformed agricultural into industrial societies
What are the problems of capitalism?
Demand limited by low wages Promoted expansionism Exacerbated inequality Cyclical nature Great Depression/recession Impersonal
What are the solutions to the problems of capitalism?
Domestic (state regulation)
International (aspiration of state hood)
What are the three driving forces of the Post World War order?
U.S. Economic interests
Rival economic model
National liberation movements
What is the development moment consisted of?
State directed
Industrialization
Keynesian Economics
What did M.J. Keynes suggest?
When markets fail, state boosts demand
What did F.A. Hayek suggest?
Market failure is necessary, government intervention (corruption and dependency) created greater stablity
What was development economics?
Primarily Keynesian and was a jump start development
What is the modernization theory?
Supplements economics with sociology and political science to theorize the preconditions for, and obstacles to, development
What were Rostow’s stages of growth?
Traditional society Preconditions for takeoff Takeoff Drive to maturity Age of mass high consumption
What does the dependency theory state?
Developing states = Resources, labour markets
Wealthy states = Recreate structure of dependence
Why are ideas important?
They are always there and they always shape expectations
Create structures
What is the world systems theory?
Core/periphery and semi-periphery
A core of the core, a core of the periphery, a periphery of the core, and a periphery of the periphery
The further you get from the core, the poorer you are, the closer you get to the core, the richer you are
Everything shifts towards the core
Which three countries were part of the Third World Debt Crisis in the 1980s?
Mexico, Argentina, and Brazil
What was the role of Structural Adjustment Programs (SAPs)?
Market friendly policies
Reversed state role Keynesian to market policies
Were not trying to hurt the global south
Based on market-friendly policies
