What is Development Economics?

Question 1

development economics - 1940s and 1950s

Answer 1

• pioneers in development
• economists influenced by reconstruction after WWII under marshall plan and crisis management under keynesian economics
• main objective accelerating GDP per capita

Question 2

development economics - 1960s

Answer 2

increasing income gaps across nations and failure of ‘trickle down’ eradicating poverty
- important role of state in managing catching up

Question 3

development economics - 1970s

Answer 3

movement towards poverty reduction as main objective

Question 4

development economics - 1980s and 1990s

Answer 4

globalisation
- labour intensive growth with social safety nets

Question 5

development economics - 200s post washington consensus

Answer 5

inclusive development and social harmony with large public sector for social protection and redistribution