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Geyser

Capital and Technical Progressnting period (i.e. gross income minus depreciation) and how much it consumes out of that income in the same period. Capital accumulation enlarges a country’s capacity to produce goods. As we saw in Chapter 2, however, production-function studies, at least for advanced countries, cast some doubt on w

厌烦

Dualism and the Process of Cumulative Causationr to determine precisely why there should be a dearth of some factors and an abundance of others, and why development may be a slow and lengthy process. It is certainly impossible to explain present-day international discrepancies in the level of development with reference to initial differences in

阴谋小团体

Resource Allocation and the Choice of Techniqueslocation of resources among competing ends. For most developing countries the two major constraints on the growth of output are the ability to invest and import, and most theories of resource allocation and most investment criteria reflect this fact. A common starting-point in the consideration of r

subordinate

amphibian

The Programming Approach to Developmentrces are allocated efficiently subject to certain constraints. In our earlier discussion of resource allocation we were more concerned with the investment criteria that should be applied in the light of particular goals than with the efficiency with which resources were to be used, or whether the ap

加剧

The Planning Wageaditional’ view that if the marginal product of labour in agriculture is zero, labour ought to be considered ‘costless’ in the planning process in order for current total output to be maximised (see Chapter 3). This is also the programming solution where the objective function is to maximise current

辩论的终结

Financing Development from Domestic Resourcestional trade and foreign borrowing, capital formation is only possible through abstinence from present consumption and when society produces a surplus of consumer goods sufficient to meet the needs of labour engaged in producing capital. In a subsistence (Robinson Crusoe) economy, saving and investm

AUGER

Financing Development from External Resourceselopment process will be considered, together with the debt-servicing problems associated with it. Later, we shall consider types of foreign assistance such as private foreign investment and international assistance, both bilateral and multilateral.

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