Podcast
Questions and Answers
What does GDP represent in economic terms?
What does GDP represent in economic terms?
- The total production value adjusted for inflation
- The income generated per capita from all sources
- The total market value of all goods produced by permanent residents
- The market value of all final goods and services produced within a country (correct)
Which of the following accurately describes Per Capita GNP?
Which of the following accurately describes Per Capita GNP?
- The average income of the top earners in a country
- The per-head value of goods produced by permanent residents, converted to USD (correct)
- The total GNP divided by the number of residents in a country
- The GNP of a country adjusted for geographic size
What was a major shift in economic thought during the 1970s?
What was a major shift in economic thought during the 1970s?
- An emphasis on redistribution from growth and social indicators (correct)
- Increased reliance on inflation-adjusted GDP measures
- The adoption of GNP as the primary economic measure
- A focus solely on maximizing GDP growth
What does the PPP Measure evaluate?
What does the PPP Measure evaluate?
How is economic development defined in the provided context?
How is economic development defined in the provided context?
What term was commonly used instead of 'development' up until World War II?
What term was commonly used instead of 'development' up until World War II?
According to the mainstream economic viewpoint, development was primarily equated with which concept in the 19th century?
According to the mainstream economic viewpoint, development was primarily equated with which concept in the 19th century?
In Marx's interpretation of history, development is considered to be:
In Marx's interpretation of history, development is considered to be:
What does Heterodox View emphasize about development?
What does Heterodox View emphasize about development?
According to Schumpeter, what is a primary cause for the end of capitalism?
According to Schumpeter, what is a primary cause for the end of capitalism?
Marx believed that society changes due to which fundamental concept?
Marx believed that society changes due to which fundamental concept?
The binary conceptualization of westernization implies that:
The binary conceptualization of westernization implies that:
In the view of both Schumpeter and Marx, what is considered inevitable?
In the view of both Schumpeter and Marx, what is considered inevitable?
How does Amartya Sen define development?
How does Amartya Sen define development?
Which of the following concepts is NOT part of the Capability Approach?
Which of the following concepts is NOT part of the Capability Approach?
What role do political freedoms play in the context of development?
What role do political freedoms play in the context of development?
Which of the following describes the concept of 'Protective security'?
Which of the following describes the concept of 'Protective security'?
What does 'transparency guarantees' refer to in the context of freedoms?
What does 'transparency guarantees' refer to in the context of freedoms?
How are social freedoms related to economic participation?
How are social freedoms related to economic participation?
What is a key characteristic of freedoms as described by Amartya Sen?
What is a key characteristic of freedoms as described by Amartya Sen?
What aspect of freedom includes processes that allow actions such as voting?
What aspect of freedom includes processes that allow actions such as voting?
Which term implies that certain countries have not yet reached completeness in their development?
Which term implies that certain countries have not yet reached completeness in their development?
What was one of the implications of calling nations 'Backward societies'?
What was one of the implications of calling nations 'Backward societies'?
Which of the following terms is used to refer to the poorest of the poor?
Which of the following terms is used to refer to the poorest of the poor?
What does the World Bank's classification of countries primarily rely on?
What does the World Bank's classification of countries primarily rely on?
Which label is considered a relic of the Cold War and implies ideological competition?
Which label is considered a relic of the Cold War and implies ideological competition?
What is one criticism of the various 'development' labels mentioned?
What is one criticism of the various 'development' labels mentioned?
Which of the following is NOT listed as a newer label for countries in development?
Which of the following is NOT listed as a newer label for countries in development?
What important aspect must be recognized in development according to Crush (1995)?
What important aspect must be recognized in development according to Crush (1995)?
What are the three goals on which the Human Development Index (HDI) is based?
What are the three goals on which the Human Development Index (HDI) is based?
How does the HDI measure human development?
How does the HDI measure human development?
Which organization initiated the Human Development Index (HDI)?
Which organization initiated the Human Development Index (HDI)?
What income index range corresponds to low human development according to the HDI classification?
What income index range corresponds to low human development according to the HDI classification?
Which approach to development is linked with the human rights framework?
Which approach to development is linked with the human rights framework?
What was adopted by the UN General Assembly in 1986 regarding development?
What was adopted by the UN General Assembly in 1986 regarding development?
What is the primary aim of the Sustainable Development Goals (2015-2030)?
What is the primary aim of the Sustainable Development Goals (2015-2030)?
What strategy does the human rights approach employ regarding governments?
What strategy does the human rights approach employ regarding governments?
Study Notes
Development: A Historical Perspective
- Pre-WWII: The term "material progress" was commonly used instead of "development."
- 19th Century: "Economic development" emerged as a policy objective, often associated with modernization, westernization, or industrialization.
- Marx's View: Development is seen as a process of change in the entire society, influenced by the changing nature of economic systems.
- Schumpeter and Marx: Both believed in the inevitability of a transition from capitalism to socialism.
- Causes of Capitalism's Demise: Schumpeter argued for monopoly and the demise of competition, while Marx emphasized class struggle.
Measuring Development
- GDP and GNP: GDP measures the total value of goods and services produced within a country, while GNP measures the value produced by permanent residents of a country regardless of location.
- Per Capita GDP and GNP: These measures reflect the income per person within or by residents of a country, respectively.
- PPP Measure: Adjusts exchange rates to reflect the purchasing power of currencies in different countries, allowing for a more comparable measure of living standards.
Shift in Development Focus
- 1970s: Shift from prioritizing GNP growth to "redistribution from growth," recognizing the importance of non-economic social indicators.
- Amartya Sen's Capability Approach: Development is viewed as expanding real freedoms and individuals' ability to make choices they value.
Key Components of Freedom
- Instrumental Freedoms: Political freedoms, economic facilities, social opportunities, transparency guarantees, and protective security.
- Interconnectedness of Freedoms: Each type of freedom can contribute to and strengthen others.
- Types of Freedom: Include processes (like voting rights) and opportunities (like escaping premature mortality).
The Human Development Index (HDI)
- Goals: HDI focuses on longevity, knowledge, and standard of living.
- Calculation: Combines income, life expectancy, and education indices to create a score between 0 and 1.
Multi-dimensional Approach to Development
- Human Rights-Based Approach: Links development with achieving human rights, emphasizing the obligations of governments to improve capabilities.
- Use of International Law: Serves as a framework for holding governments accountable for improving citizens' freedoms.
Labels for Development
- Old Labels: "Backward societies," "Developing Countries," and "The Third World" are often considered outdated and problematic due to their implications of inferiority and intervention.
- Newer Labels: "Newly Industrialized Countries (NICs)," "Emerging Economies," and "Fourth World" present alternative descriptors, but still carry some limitations.
- **World Bank Classification:**Categorizes countries into income groups: low-income, lower-middle income, upper-middle income, and high-income, reflecting the role of GDP per capita.
- Ethnocentric Bias: "Development" labels often mask power relationships and reinforce the illusion of progress.
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Description
Explore the evolution of the concept of development from pre-WWII to modern times. This quiz delves into key theories and figures, including Marx and Schumpeter, while examining how development is measured through GDP and GNP metrics.
