POL SCI 51A Lecture Notes - Lecture 15: Mercantilism, Perfect Competition, World-Systems Theory
25 Mar 2016
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Document Summary
Improvement people"s lives are improved as a result of development. Human development people"s health; infant mortality rates; literacy. Individuals live and if their lives improve over ime. Distribuion of income (salary), distribuion of wealth (landholdings, cars, etc. ) Sustainable development environmental impact of economic growth: canada is a commodity-based economy. We need these resources in the long- term. Poliical development democracy, human rights, the rule of law: it is argued that poliical development is the pinnacle of development modernizaion theory. Aggregate economic growth how do we explain economic growth: theory how does the world work, how it should work, predict how it will work. Smith and ricardo believe that logic of the market is one that should encourage specializaion. The free hand of the market should govern. The division of labor is the most eicient. Individualism is vital; under these circumstances we see a producive system, leading to prosperity, and ulimately peace.
