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Uneven development results from the "spatially and temporally uneven processes and outcomes that are characteristic, and functional to capitalism". [17] Much of neoclassical economic theory holds that features of unevenness, such as income inequality, equalizes as a result of capital diffusion throughout the open market.
Human development theory is a theory which uses ideas from different origins, such as ecology, sustainable development, feminism and welfare economics. It wants to avoid normative politics and is focused on how social capital and instructional capital can be deployed to optimize the overall value of human capital in an economy.
Citing Foucault marked a shift in the study of development from realism to interpretivist or post-structuralist approaches, which offered much more than an analysis of mainstream development economics or the sprawling array of development actors and institutions it spawned, giving rise to a coordinated and coherent set of interventions that ...
The report states that "Some pathways chosen to achieve the goals related to energy, economic growth, industry and infrastructure and sustainable consumption and production (Sustainable Development Goals 7, 8, 9 and 12), as well as targets related to poverty, food security and cities (Sustainable Development Goals 1, 2 and 11), could have ...
Beginning with William Stanley Jevons and Clément Juglar in the 1860s, [8] economists attempted to explain the cycles of frequent, violent shifts in economic activity. [9] A key milestone in this endeavor was the foundation of the U.S. National Bureau of Economic Research by Wesley Mitchell in 1920.
The theory is based on the assumption that not only are there similar stages to development for all countries but also that there is a linear movement from one stage to another that goes from traditional or primitive to modern or industrialized.
As such, economic transformation emphasises the movement from low- to high-productivity activities within and across all sectors (which can be tasks or activities that are combinations of agriculture, manufacturing and services). This movement of resources from lower- to higher-productivity activities is a key driver of economic development. [3]
Social development theory attempts to explain qualitative changes in the structure and framework of society, that help the society to better realize aims and objectives.. Development can be defined in a manner applicable to all societies at all historical periods as an upward ascending movement featuring greater levels of energy, efficiency, quality, productivity, complexity, comprehension ...