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Definition
| Views individuals as naturally self-interested and rational actors. Numerous empirical studies from different cultures and climates show that uneducated private agents act economically as producers and consumers. they respond to changes in relative prices as theory would predict. Poor people may, in fact, be pushed even harder to seek their advantage in the market than rich people. Free markets 'state of nature'. |
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| Minimalist State (Neo-Liberalizm) |
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Definition
National defense.
Domestic Order (Property rights)
Public works- Public goods and Merit Goods. |
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Definition
State intervention in the market is the problem not the solution. From the experience of a large number of developing countries in the postwar period, it would be fair professional judgment that most serious distortions are due not to imperfections of the market mechanism but to irrational governmental interventions |
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| Specialization (Neo-Liberalism) |
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Definition
Human beings have the natural propensity to truck, barter and exchange which leads to specialization.
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| Division of Labor (Neo-liberalism) |
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Definition
Lead to maximizing of labor. Individuals maximizing their own productivity accrues to the benefit of society. |
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| Rent-Seeking (Neo-liberalism) |
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Definition
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Definition
| As Societies developed, they would become capitalist democracies, converging around a shared set of values and characteristics. |
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| Modern Values (Modernization) |
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Definition
| Achievement-oriented, Rule/merit-based, Active and Rational |
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| Traditional values (Modernization) |
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Definition
| Ascriptive, Reliance on personal ties, Passive, Non-rational and Superstitious |
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| Civic culture attitudes (Modernization) |
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Definition
| Trust, Satisfaction, Competence |
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Term
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Definition
| Emerged in late 1960's as critique of modernization theory. Focuses on country's position in global political economy. Countries are located in either core or periphery. |
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| Comprimised of earlier industrializing countries that could use industrial might to pursue imperial expansion. Controls capital and technology needed by periphery. First waves in 1400s-1700s, second in mid 1800s-1900s. |
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| Comprised of countries historically integrated into global political economy in subordinate positions--often as colonies of imperial powers. Provide raw materials, cheap labor for core, concentrate on few primary commodities such as cocoa, are vulerable to volatility of raw material prices (oil), are often dependent on one core country and depend on core for capital and technology. |
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Definition
| The establishment, through military force, of a formal government administration, controlled by a conquering imperial power in a foreign territory, leading to economic, cultural, and politcal dominationg of that territory by the imperial power. Motivations were new sources of raw materials in short supply in the core country, new markets for prodcts from the core country and new, profitable outlets for investment capital based in the core country. |
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| Neo-colonialism (Dependancy) |
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Definition
The exercise of economic and cultural domination over a nominally sovereign state by a core power, often through the presence of multinational corporations based in the core and through the extension of bilateral military aid, without establishment of a formal colonial administration. |
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| Global Commodity Chains (Dependency) |
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Definition
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Term
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Definition
| States have the potential to promote development within their own borders. States have interests autonomous from society's in promoting development because they are responsible for national security; they must compete militarily and economicaly in the international state system. Ability of states to promote development depends on the nature of state institutions. |
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| Developmental state characteristics (Statism) |
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Definition
Merit/skill-based recruitment --> technocrats. Performance based rewards with competitive salaries and proper incentives. belief in bureaucratic mission. Insulation from societal pressures. Power to formulate and implement policy.
Predicted Outcome = Wealth |
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| Predatory state characteristics (Statism) |
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Definition
Recruitment based on patron-client ties. Policy based on personal benefit not mission. Not insulated from societal pressures. Lacking in ability to formulate good policy. Lacking in authority/power to implement policy.
Predicted outcome = poverty |
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Definition
| Gerschenkron believes timing matters for how states develop. Early and late players in the game of state survival develop differently. |
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| Gerschenkron Relative Backwardness (Statism) |
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Definition
When states are latecomers and need to compete militarily and economically staes must jump in to the international system at the global technological frontier or be crushed. Global technological frontier is always moving forward militarily and economically so when a state amasses huge investments necessary to develop economically and militarily at the global technological frontier that is called a backwardness such as Russia. |
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| Gerschenkron Advantages of backwardness (Statism) |
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Definition
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The later the development occurs, the greater the role of the state. |
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