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Saturday, August 8, 2020 | History

2 edition of Capital fundamentalism, economic development, and economic growth found in the catalog.

Capital fundamentalism, economic development, and economic growth

Robert G. King

Capital fundamentalism, economic development, and economic growth

by Robert G. King

  • 66 Want to read
  • 25 Currently reading

Published by World Bank, Policy Research Department, Finance and Private Sector Development Division in Washington, D.C .
Written in English

    Subjects:
  • Capital.,
  • Saving and investment.,
  • Economic development.

  • Edition Notes

    StatementRobert G. King, Ross Levine.
    SeriesPolicy research working paper ;, 1285, Policy research working papers ;, 1285.
    ContributionsLevine, Ross., World Bank. Policy Research Dept. Finance and Private Sector Development Division.
    Classifications
    LC ClassificationsHG3881.5.W57 P63 no. 1285
    The Physical Object
    Pagination47 p. :
    Number of Pages47
    ID Numbers
    Open LibraryOL1226455M
    LC Control Number94227065
    OCLC/WorldCa30600614

      This book is a colossal effort and follow-up to Piketty's last comprehensive study of inequality, "Capital in the 21st Century." Capital and Ideology is essentially a historical materialist account of the various "inequality regimes" throughout recorded world history/5(51). Nevertheless, this book has the best explanation I've read on why capital fundamentalism, the approach to economic development based on the work by economist and Nobel Prize winner Robert Solow, was such a dismal failure in the Third World.

    Walt Rostow, an influential economic historian, declared in “The Stages of Economic Growth” () that investment is crucial for a take-off into sustained growth, .   Using public investment to drive economic growth – often derisively called “capital fundamentalism” – has long been out of favor among development experts. But if one looks at the countries that, despite strengthening global economic headwinds, are still growing rapidly, one will find that public investment is doing much of the work.

    This article first estimates Cobb-Douglas production functions for Vietnam's economy using annual data in – Then, the article measures the contribution of capital formation, labour, and technological progress to the growth of the economy, the effects of major internal and external shocks on output, the impact of economic reforms (doi moi) since the end of , the Cited by: 5. fundamental belief in the primacy of economic growth. Many countries have a mixed bag of economic development objectives, such as poverty alleviation, equitable income distribution or local industry development, alongside economic growth. In Singapore’s case, growth is the primary aim and the principal way to achieve all theFile Size: KB.


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Capital fundamentalism, economic development, and economic growth by Robert G. King Download PDF EPUB FB2

Downloadable. Few economic ideas are as intuitive as the notion that increasing investment is the best way to raise future output. This idea was the basis for the theory"capital fundamentalism."Under this view, differences in national stocks of capital were the primary determinants of differences in levels of national product.

Capital fundamentalists viewed. However, neither Harrod nor Domar fit in the ‘capital economic development idea. Development planners in the s adapted the growth formula to their own agenda.

Most development economists at the time were aware that Harrod’s and Domar’s growth models addressed economic instability issues, not long-run by: 8.

Get this from a library. Capital fundamentalism, economic development, and economic growth. economic development G King; Ross Levine; World Bank. Policy Research Department. Finance and Private Sector Development Division.].

Downloadable. Author(s): King, Robert G.*Levine, Ross*DEC. Abstract: Few economic ideas are as intuitive as the notion that increasing investment is the best way to raise future output. This idea was the basis for the theory"capital fundamentalism."Under this view, differences in national stocks of capital were the primary determinants of differences in levels of national.

How does an increase in the tax rate on income from capital affect economic growth. Old Exam Questions. During the s and s, Germany and Japan had much faster rates of economic growth than did the United States.

What might account for these differences in growth rates. Did these differences occur because of a fundamental defect in the. concepts of savings, investment and economic growth first.

Concepts of Savings, Investment and Econ omic Growth In a narrow sense, saving generally means putting money aside, for example. “Financial Structure and Economic Growth: Perspectives and Lessons.” (with Asli Demirguc-Kunt) in Financial Structure and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development, Eds.

Asli Demirguc-Kunt and Ross Levine. Cambridge, MA: MIT Press, This book addresses a diverse set of challenges facing Latin American economies. These range from the role of neo-liberal policies, deficit targeting, import substitution, role of institutions, trade and regional development and human capital and poverty.

Economic and social development, as a public sector term, is the process by which the economic well-being and quality of life of a nation, region or local community are improved according to targeted goals and objectives.

The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for centuries. Economic Growth, Economic growth is an increase in the total value of goods and services produced by a country’s economic system.

The rate of economic growth, which i Smart Growth, Smart growth is a relatively new movement in the United States, at least by name, a movement promoted since the early s as a new way to direct gr Walt Whitman Rostow, Walt. Should a modern version of capital fundamentalism — where capital and investment are viewed as the primary determinants of economic development and long-run growth.

While economists’ interest in economic growth and “ development” dates back to Adam Smith (who was indeed interested in the Nature and Causes of the Wealth of Nations), “the term ‘economic development’ was rarely used before the s” (Meier ). A few years later the young Bauer was again summoned by the Colonial Office to.

As the eminent social scientist Karl Polanyi has stultified and debunked the erroneous ideas of economic determinism and market fundamentalism, Fred Block and Margaret Somers greatly contributed to the intellectual endeavor to manifest the ontological embeddedness of State-Economy-Society in their important and enlightening book The Power of ‎Market‬.

“Economic growth has thus become the crucial juncture where almost all modern religions, ideologies and movements meet. The Soviet Union, with its megalomaniac Five Year Plans, was as obsessed with growth as the most cut-throat American robber baron. Structuralism is a development theory which focuses on structural aspects which impede the economic growth of developing countries.

The unit of analysis is the transformation of a country's economy from, mainly, a subsistence agriculture to a modern, urbanized manufacturing and service prescriptions resulting from structuralist thinking include major.

Sociologist Fred Block believes it’s time to take economic fundamentalism down from its pedestal. In his article “Confronting Economic Fundamentalism” (published in in Socio-Economic Review), Block defines it as a “vastly exaggerated belief in the ability of self-regulating markets to solve problems” such as poverty, political instability and environmental Author: The Presbyterian Outlook.

5 Poverty, Inequality, and Development 6 Population Growth and Economic Development: Causes, Consequences, and Controversies 7 Urbanization and Rural-Urban Migration: Theory and Policy 8 Human Capital: Education and Health in Economic Development 9 Agricultural Transformation and Rural Development File Size: KB.

The models showed that any system based on exponential economic and population growth crashed eventually.

One of the gloomier models was called the standard run, in which the "present growth trends in world population, industrialization, pollution, food production, and resource depletion continue unchanged.".

King, Robert G. and Ross Levine “Capital fundamentalism, economic development, and economic growth”. In: Carnegie-Rochester Conference Series on Public Policypages – CrossRef Google ScholarAuthor: José Luis Iparraguirre.

( views) The Cult of the Market: Economic Fundamentalism and its Discontents by Lee Boldeman - ANU Press, 'The Cult of the Market' disputes the practical value of the shallow, all-encompassing, dogmatic, economic fundamentalism espoused by policy elites in recent public policy debates, along with their gross simplifications and sacred.

of The Elusive Quest for Growth, one begins to appreciate the meaning behind the book’s title. Individual policies such as aid for investment, population control, and human capital investment have all failed as a solution to the lack of economic growth in underdeveloped countries.1 Arnold Toynbee.

Lectures on The Industrial Revolution in England (London: Rivingtons, ). 2 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Sixth Edition (Strahan, ), – 3 The findings in this section are from research conducted with Robert J.

Barro. See Robert J. Barro and Rachel M. McCleary, “Religion and Economic Growth .———, “Capital Fundamentalism, Economics Development, and Economic Growth,” Carnegie–Rochester Conference Series on Public Policy 40 ()– Klenow, Peter J.

and Andres Rodriguez-Clare,“The Neoclassical Revival in Growth Economics.