The Science of Economic Development and Growth: The Theory of Factor ProportionsThe Science of Economic Development and Growth outlines a new theoretical framework -- one employing scientific method and reasoning -- through which to study and plan for the economic development of poor countries. This new theory is presented in three parts: first, a full discussion of how countries like the U.S. were able to develop; second, the author proposes that there is a third dimension to understanding growth and development -- material -- which must be considered along with labor and capital; third, the book shows how capital accumulation -- long thought to be a necessary precursor to growth and economic expansion -- is not only unnecessary but can actually lead to "economic hemorrhage", as was the case during the Asian economic crisis. |
Contents
3 | |
Positivist Orthodoxy | 7 |
The Modernization and RationalChoice Schools | 10 |
Dependency Theory | 16 |
Neoliberal Theory | 20 |
New Growth Theory Endogenous Growth Theory | 26 |
Science and Economic Development | 35 |
Nature | 39 |
Infant Industry | 181 |
International Factor Mobility | 185 |
Capital Inflow | 186 |
Economic HemorrhageBusiness Cycles | 201 |
Material Inflow | 202 |
Foreign Investment and Trade Between Advanced Economies | 203 |
Foreign Direct Investment and Export of Manufactured Goods by Developing Countries | 204 |
Technology Transfer | 206 |
Manpower and Labor in Primal Communities | 41 |
Capital in Primal Societies | 46 |
Materials in Primal Societies | 50 |
Agricultural Economy? | 52 |
Heat | 53 |
Factor Substitution | 54 |
Basic Personality | 56 |
Theory of Factor Proportions | 67 |
Substitution | 69 |
Factor Supply | 76 |
Potential Capacity | 93 |
Productivity and Technology | 98 |
Human Capital | 104 |
What Is Technology? | 105 |
Inequality and Competition | 107 |
Neoclassical Growth and New Growth | 108 |
Scientific Economic Development Growth Is Exogenous | 111 |
Is the Technology There? | 115 |
Economy of Scale | 131 |
Optimization | 139 |
Processing of Materials | 143 |
Virtual Reality | 149 |
International Trade Versus Economic Development and Growth | 153 |
Economy of Scale and Trade | 164 |
Prospects for the International EconomyofScale Paradigm | 173 |
International Trade Based on World Regions | 176 |
Market Fragmentation | 178 |
Foreign Aid | 209 |
Project Assessment and the Issue of Participation | 223 |
Sustainability and Participation | 224 |
The World Economy and Globalization | 231 |
World Economy | 251 |
ChinaWhose Globalization? | 269 |
Interconnectedness | 272 |
Financial Solutions in the Global Context | 276 |
The Way Forward | 281 |
The US Economy A Historical Perspective | 283 |
Iron and Industrial Development in America | 286 |
US Economic Emergence | 290 |
Substitution for National Resources Materials | 296 |
United States 18901940 | 308 |
World War II | 326 |
Postwar Economy | 335 |
Third Industrial Divide | 337 |
Conventional Economics Difficulties in Analyzing the New Economy | 342 |
Capital Deepening | 345 |
Investment in the Services Sectors in the US Economy | 349 |
Inflation and the New Economy | 358 |
Conventional Economics and New Economic Cycles | 360 |
Inflation and the New Economy | 362 |
Conclusion | 365 |
Notes | 373 |
399 | |
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The Science of Economic Development and Growth: The Theory of Factor ... C.C. Onyemelukwe Limited preview - 2016 |
The Science of Economic Development and Growth: The Theory of Factor ... C.C. Onyemelukwe Limited preview - 2016 |
Common terms and phrases
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