Tag: economic development
What is Economic Globalisation?
Economic Globalisation involves the global expansion of international capitalism, free markets and the increase in international trade, a process which has accelerated since the 1950s. Nearly every country on earth now imports and exports more from and to other countries than it did immediately after World War Two, and even ex-communist countries are now part…
This post defines sustainable development, summarises the environmental challenges we face and contrasts technocentric and ecocentric views on the relationship between economic growth and sustainability. There are many definitions of sustainable development, including this landmark one which first appeared in 1987: “Development that meets the needs of the present without compromising the ability of future…
The Neoliberal Theory of Economic Development
According to neoliberalism big government and too much official development aid prevent economic and social development, while deregulation, privatisation and lowering taxation are required to achieve economic growth. This post outlines the neoliberal approach development and then briefly assesses the effectiveness of neoliberal policies. What is Neoliberalsm? While the usage of the term neoliberalism varies…