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Development Economics: Semester 1, 2020-2021

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67 views20 pages

Development Economics: Semester 1, 2020-2021

ppt

Uploaded by

bunyod radjabov
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Development Economics

Lecture 02
Semester 1, 2020-2021
Lecture Outline of Teaching Week 01
• Overview of Global inequality .
• What is the nature of Development
Economics?
• What questions do we study in Development
Economics?
10/5/2020
Today Lecture Outline
What we will study?
• The Concept of Development: Historical and Modern
• Amartya Sen’s “Capability” Approach
• Core Values of Development
• Objectives of Development
• The Millennium Development Goals

10/5/2020
The Concept of Development: Historical and Modern

Development Mean?
• Different people may have different meaning
• Important that we have some working
definition
• Without some agreed measurement criteria,
difficult to differentiate the countries
10/5/2020
The Concept of Development: Historical and Modern

What is Traditional Economic Measures?


• Focus to achieve sustained rates of growth of income
per capita to enable a nation to expand its output at a
rate faster than the growth rate of its population.
• Gross national income (GNI) used to measure the
overall economic well-being of a population.
• How much of real goods and services is available to the
average citizen for consumption and investment.
10/5/2020
The Concept of Development: Historical and Modern

What is Traditional Economic Measures?


Primary Importance:
• Rapid gains in overall and per capita GNI growth
• Trickle down growth
Secondary importance:
• Poverty, discrimination, unemployment, and
income distribution

10/5/2020
The Concept of Development: Historical and Modern

The New Economic View of Development


• 1950-1960: Most countries achieved economic growth
targets but the levels of living of the masses of people
remained for the most part unchanged.
• 1970s: Economic development came to be redefined in
terms of the reduction or elimination of poverty, inequality,
and unemployment within the context of a growing
economy.
• “Redistribution from growth” became a common slogan.

10/5/2020
The Concept of Development: Historical and Modern

Dudley Seers posed the basic question about the


meaning of development Dudley Seers
• What has been happening to poverty?
• What has been happening to unemployment?
• What has been happening to inequality?
- If all three of these have declined from high
levels, then beyond doubt this has been a period
of development for the country concerned.
- If one or two of these central problems have
been growing worse, especially if all three have, it
would be strange to call the result “development”
even if per capita income doubled.

10/5/2020
• A number of developing countries experienced relatively high rates
of growth of per capita income during the 1960s and 1970s but
showed little or no improvement or even an actual decline in
employment, equality, and the real incomes of the bottom 40% of
their populations.
• By the earlier growth definition, these countries were developing;
by the newer poverty, equality, and employment criteria, they were
not.
• The situation in the 1980s and 1990s worsened further as GNI
growth rates turned negative for many developing countries, and
governments, facing mounting foreign-debt problems

10/5/2020
The Concept of Development: Historical and Modern

Amartya Sen’s “Capability” Approach Amartya Sen


Reject three measures of good outcome
• Wealth or GDPs
• Happiness
• Basic Needs
Capability Approach
• Capability is something that a person is able to do.
• “The freedom that a person has in terms of the choice of
functionings, given his personal features and his command
over commodities.”
• What choices that have, which they are free to realize, what
are the things they can do, what kind of possible
achievements can they choose from .

10/5/2020
Happiness and Development
• There is not a perfect correlation between
happiness and per capita income: people could be
poor, but happy; rich, but and unhappy

• Once per capita income increases above $10,000 to


$20,000, the percentage of people who say they
are happy tends to increase
Copyright © 2009 Pearson
Addison-Wesley. All rights 1-11
reserved.
Income and Happiness Across Countries

10/5/2020
The Concept of Development: Historical and Modern

Richard Layard identifies seven factors that


surveys show affect average national happiness Richard Layard
Factors affecting happiness:

• Family relationships
• Financial conditions
• Work satisfaction
• Community and friends
• Health and health-care services
• Personal freedom
• Personal values

10/5/2020
Three Core Values of
Development

• Sustenance: The ability to meet basic human needs including


shelter, food, health, education, safety

• Self-Esteem: To be a person with a sense of self-respect and


self-worth. To live with dignity, respect, and honor

• Freedom: To be able to choose the path to prosperity and


have the opportunity to improve

10/5/2020
Objectives of Development

• To increase the availability and distribution of


basic human necessities

• To improve the standard of living for the majority


of the people

• To expand the range of economic and social


choices and opportunities
10/5/2020
The Millennium Development Goals
• In September 2000, the 189 member countries of
the United Nations at that time adopted eight
Millennium Development Goals (MDGs).
• Committing themselves to making substantial
progress toward the eradication of poverty and
achieving other human development goals by
2015.
10/5/2020
10/5/2020
10/5/2020
What we learn?
• The Concept of Development: Historical and
Modern
• Amartya Sen’s “Capability” Approach
• Core Values and Objectives of Development
• The Millennium Development Goals
10/5/2020
Email: mjaved@wiut.uz
rachidjaved@gmail.com

10/5/2020

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