POL101Y1 Lecture Notes - Lecture 5: Meritocracy, Import Substitution Industrialization, Tsmc
25 Jul 2013
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Human development, micro aspect (health status, literacy, infant mortality) ex. Equity (gdp, gdp/capita, income/wealth distribution, social mobility, gender/religion) capacity (to upgrade nations economy, skills/education) sustainable development (long term, environment, industrial diversity) ex. Canada is commodity resource seller is this sustainable? long run. **focus on aggregate economic growth** how to explain some countries developed while other not through theory: explain data, prediction, prescribe a theoretical conversation: the cosmopolitical view: invisible hand, global economy =positive sum. Specialization (comparative advantage) = natural division of labour + free trade = efficient economy and global productivity: the mercantilist view: visible hand, gov"t intervention. Countries, england germany, not positive sum it is negative (gain at someone"s expense)
