POL 202 Chapter Notes - Chapter Baker 8: Money Supply, Balanced-Growth Equilibrium, Aggregate Demand
15 Sep 2016
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Classifying development models: development model--set if policies that a state chooses to shape economic activity within its borders, defined by orientation on 2 dimensions. Coordination of production--considers who organizes economic production: either state or. Degree of global engagement--how integrated a domestic economy is with the global private actors/market economy: liberal/open or protectionist/closed off: state-led models dominated after wwii, then market around 80s & 90s. Skepticism among political leaders about ability of freely operating private sector to. Start-up funds necessary, which private entrepreneurs didn"t have generate industrialization & sustained growth. Politicians didn"t want foreign investment & management of firms in some sectors that were. Chapter notes page 1 of military or geostrategic importance. Soes less vulnerable to whims of market. Agricultural collectives--communities in which land was jointly owned by residents or the state, state or residents decided tasks & revenue distribution; often crops sold to government to set prices & quotas & then redistribute.
