Mr Chin
4
1
Classic Theories of Development:
A Comparative Analysis
It matters little how much information we possess about development if we have not grasped its inner meaning.
—DENIS GOULET, The Cruel Choice
Development must be redefined as an attack on the chief evils of the world today: malnutrition, disease, illiteracy, slums, unemployment and inequality. Measured in terms of aggregate growth rates, development has been a great success. But measured in terms of jobs, justice and the elimination of poverty, it has been a failure or only a partial success.
—PAUL P STREETEN, Former Director, World Development Institute
.
Our new framework is a holistic and integrated approach to development strategies and programs that highlights the interdependence of all aspects of development strategy— social, structural, human, institutional, environmental, economic and financial.
—JAMES D. WOLFENSOHN, President, World Bank
Every nation strives after development. Economic progress is an essential component, but it is not the only component. As we discovered in Chapter 1, development is not purely an economic phenomenon. In an ultimate sense, it must encompass more than the material and financial side of people’s lives. Development should therefore be perceived as a multidimensional process involving the reorganization and reorientation of entire economic and social systems. In addition to improvements in incomes and output, it typically involves radical changes in institutional, social, and administrative structures as well as in popular attitudes and, in many cases, even customs and beliefs. Finally, although development is usually defined in a national context, its widespread realization may necessitate fundamental modification of the international economic and social system as well.
In this chapter we explore the recent historical and intellectual evolution in scholarly thinking about how and why development does or does not take place.
We do
1
Classic Theories of Development:
A Comparative Analysis
It matters little how much information we possess about development if we have not grasped its inner meaning.
—DENIS GOULET, The Cruel Choice
Development must be redefined as an attack on the chief evils of the world today: malnutrition, disease, illiteracy, slums, unemployment and inequality. Measured in terms of aggregate growth rates, development has been a great success. But measured in terms of jobs, justice and the elimination of poverty, it has been a failure or only a partial success.
—PAUL P STREETEN, Former Director, World Development Institute
.
Our new framework is a holistic and integrated approach to development strategies and programs that highlights the interdependence of all aspects of development strategy— social, structural, human, institutional, environmental, economic and financial.
—JAMES D. WOLFENSOHN, President, World Bank
Every nation strives after development. Economic progress is an essential component, but it is not the only component. As we discovered in Chapter 1, development is not purely an economic phenomenon. In an ultimate sense, it must encompass more than the material and financial side of people’s lives. Development should therefore be perceived as a multidimensional process involving the reorganization and reorientation of entire economic and social systems. In addition to improvements in incomes and output, it typically involves radical changes in institutional, social, and administrative structures as well as in popular attitudes and, in many cases, even customs and beliefs. Finally, although development is usually defined in a national context, its widespread realization may necessitate fundamental modification of the international economic and social system as well.
In this chapter we explore the recent historical and intellectual evolution in scholarly thinking about how and why development does or does not take place.
We do