Economic Policy for Growth: Economic Development is Human Development
Salim RashidISBN: 0792378466;
Economic Development is but one facet of Human Development. This forces us to ask -- how do humans develop? Man is a social animal and the growth of our humanity requires various social institutions, such as bureaucracy. The paradox of capitalism is thatit is a system ostensibly based on self-interest yet wholly dependent on non-market values for its success. These non-market values are shaped by two much-neglected factors, religion and ethnicity. Economic Development is an applied field; whatever it claims as a conclusion should be an applicable conclusion. This requires attention to all those non-economic factors which translate economic decisions into practice -- such as the forces of nationalism versus the pressures of such global powers as US foreign policy and the advice of the IMF/IBRD. Since policy is our goal, theory whose intellectual basis is inaccessible to policy makers or which fails to have application should be minimized. Mathematical models are best avoided and, if...
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