GEOG 3050 Lecture Notes - Lecture 3: Gunnar Myrdal, Viverra, Saskia Sassen
31 Oct 2018
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Document Summary
Division of labour: industrialization, economic development and urbanization: specialization, investment and industrialization-adam smith"s example of the pin factory. Highlight the importance of specialization and division of labour. Investment/capital is seen as being key and how ef cient labour and capital is being deployed: developing countries can catch up through innovation. Types of innovation: agriculture - some people are moving away from rural life and others move away from urbanization, industry, services. Institutions, economic growth and economic development in development discourse: institutions: formal and informal rules of the game in uence which country innovates than others. Laws and regulations - how fast they"re able to reform. Social and cultural norms - gender relations, the place of people in society: institutions matter because they provide a predictable framework for exchange between institutions, individuals and organizations. Urbanization but no corresponding economic growth: urbanization without growth - 80"s & 90"s sub saharan africa and india.
