Economics And The Space Of Development: Tales Of Growth And Capital

Arturo Escobar(1952-)

Development Economics
The concept itself. Lauchlin Currie (1902-1993) his ideas life and his tale of success. John Kenneth galbraith(1908-2006)

Economics As Culture
Economics, a product of culture Political economy, Marx and production and labor The debate over economic model, Gudeman and Riveras insistence on other models and anthropological conception of economics Foucaults view of economics McCloskeys view of rhetoric economics
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The World of Economics

Labor, capital wealth accumulation and David Ricados opinion of labor. Jevonss rejection of labor and conception of Value the abstract quality whereby an object serves our purposes, and becomes entitled to rank as a commodity Leon Walras the free play of forces of supply and demand would tend to establish, under competitive conditions, an equilibrium pattern in the prices of commodities in such a way that all markets would be cleared. harmonious way of explaining, without power history.
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The World of Economics 2

Great Depression an pre development theories of capital Schumpeters sociological framework. Karl Marx Pre ww2 theories and classical traditions. Lauchlin Currie (1902-1993) his ideas life and his tale of success. John Kenneth galbraith(1908-2006).
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 John Maynard Keynes and his revolution (5 June 1883 21 April 1946), was a British economist whose ideas have profoundly affected the theory and practice of modern capitalistic economy, as well as the economic policies of governments of USA and England,) clever and his grand mother advice for living in cambridge. Economists and current prime Minister of India Manmohn singh spoke in favour of Keynesian fiscal stimuli at the 2008 g20 summit
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 Taylorism (Frederick Taylor ), Americanism, and Fordism (The essential meaning is that the worker must be paid higher wages in order to afford the products that the industrialist himself produces) Gramscis view(the biggest collective effort to date to create, with unprecedented speed, and with a consciousness of purpose unmatched in history, a new type of worker and a new type of man)
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Generalization of the market economy Market economy across the boundries The trick of GROWTH Karl polayni The Great Transformation Arndt explanation of the word development and its implications to the underdeveloped. Industerialization in poor countries is to rise capitalism, and benefit the rich country
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Economic Models
1. Rosenstein Rodan argued for a big push in investment to mobilize the rural underemployed for the task of industrialization. And industrialization required a large, carefully planned initial effort in order to be successful; small, isolated efforts were very likely to fail. 2.Rostow's historic economic model 3. Nurkse's balanced growth conception-which predicted that a country would escape the vicious circle of poverty only through a concerted application of capital to a wide range of industries 4. Hirschman's notion of backward and forward linkages for rationalizing the industrialization process.
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 Economic Commission for Latin America (CEPAL) Cheryl Payer. Payer strongly states, was that loans have to be repaid. The way they solved this predicament was to assume that loans would always be available to pay past debt, and infnitum, or to overlook completely the problem of servicing the debt. Payer refers to this as the Ponzi scheme, a scheme in which original investors are paid off with money supplied by later investors. The underlying premise was that loans would be invested properly and have high rates of return, International Bank for Reconstruction and Development (IBRD, better known as the World Bank)
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Local Models in Global Contexts

ethnographies of resistance of the 1980s, such as those by Nash (1979), Taussig (1980), Scott (1985), and Ong (1987). One of the most unambiguous expressions of the cultural basis of resistance was given by Taussig in his analysis of the spread of capitalist agriculture in the Cauca River Valley in southwest Colombia. The spread of sugarcane was met by ferce opposition by the mostly AfroColombian peasants of the region. There was much more at stake than material resistance.
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 Comaroff and Comaroff (assert that the colonized did not equate exchange with incorporation, or the learning of new techniques with subordination) Ranajit Guha Gudeman and Rivera (There is a flow of strength from the land to crops to food to humans to work that helps the land give more force. Strength is secured from the earth and used up as humans gather more. Control over this process is established through the house, for by using resources of the house to sustain their work the people gain control over the results of their efforts)

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 Gudeman and Rivera advocate a process based on communities of modelers, in which local and dominant models are accorded a say. But who is to belong to and organize these communities of modelers? Again, what we have here is a confrontation of local and global power, popular and scientifc knowledge. At issue is the distribution of global power and its relation to the economy of discourses
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Conclusions
A political economy of global economic and cultural production must thus explain both the new forms of capital accumulation and the local discourses and practices through which the global forms are necessarily deployed. Samir Amin provides general criteria for constructing alternative development orders within the capitalist world economy. For Amin, the primary criterion for reaching this goal is to encourage autocentric accumulation, defined as an economic model in which external relations to the world markets are subordinated to the needs of internal capital accumulation. Autocentric development supposes a radically different economic, social, and political order.
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 the analysis of political economy must be conducted from the perspective of its integration with local forms. From the classical political economists to today's neoliberals at the World Bank, economists have monopolized the power of speech. The effects of this hegemony and the damaging centrality of economics need to be exposed.
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 Interpretive social scientist has to take into account people's own descriptions as the starting point of theory.

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