PSCI252 Lecture Notes - Lecture 2: Comparative Advantage, Enclosure, Consumerism
3 Feb 2015
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Document Summary
Psci 252 interpreting western development week 2. Alexander gerschendkron and the theory of economic backwardness. Believed all countries go through similar stage of growth. Karl marx said all countries will become capitalist working class vs. capitalist moving towards socialist because of the problems ger contested it, timing and context matters, how you develop, when you develop matters. A larger scale of factories and frms with a greater emphasis on latest technology. A lower standard of living because there will be a diversion of resources to invested: all resources are going to be put towards investment . Political/social/economic diverting money towards building factories, trying to get income levels higher than before afterwards income levels higher other things can be done e. g. education, social factors etc. A more active role played by the government and large banks in supplying capital and entrepreneurship: a lot of money is needed, wheres the money going to come from, its going to come from the state.
