Economic Development in Malawi

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MesmerizingForeshadowing
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12 Questions

According to Theodore Schultz, what is needed to prevent a decline in production among farmers in LDCs?

New technology

What was the main focus of the 'Big push' idea proposed by some economists?

Government planning to kickstart industry

Which development approach involved protecting domestic industries in developing countries with high tariffs?

Import-substituting industrialization (ISI)

According to John Mellor, what is crucial for economic growth?

Rural and urban consumption linkages

Which of the following was a key feature of the Washington Consensus?

Privatization of public enterprises

What did the World Bank emphasize in the 1980s as part of structural adjustment programs?

Trade liberalization and market-based systems

What is a key focus of the introduction to the text?

The shift from price supports to social cash transfer schemes in Malawi

What is a concern related to economic development?

Population growth

Which theorist emphasized that saving and investment are crucial for capital accumulation and growth?

David Ricardo

What is the key engine of growth according to the Harrod-Domar Model discussed in the text?

Investment

Which model highlights the importance of surplus labor from agriculture fueling industrial growth?

W. Arthur Lewis's Dual-sector model

Who criticized W. Arthur Lewis's model and highlighted the importance of agricultural growth for industrial development?

Gustav Ranis

Explore the economic landscape of Malawi, focusing on its income level, agricultural practices, and social cash transfer schemes for the poor. Learn about the goals of economic development in the country, including income growth and poverty reduction. Understand the role of developmental economists in analyzing economic development strategies.

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