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2023 | OriginalPaper | Buchkapitel

1. Development and Progress

verfasst von : Bryan Cheang, Tom G. Palmer

Erschienen in: Institutions and Economic Development

Verlag: Springer Nature Singapore

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Abstract

This chapter provides an introduction to the topic of development studies. It starts by arguing that development is essential for human flourishing and highlights the tremendous economic progress—understood as the ‘Great Enrichment’—that humanity has achieved in recent centuries. Progress, however, is by no means inevitable and requires the right ‘ingredients’, which may be divided into proximate vs deep determinants of development. The wealth of nations, on a proximate level, is increased through gains from trade and the gains from innovation, both of which increase the productive capacity of an economy and thus material well-being. These gains, however, may be affected by deeper factors, such as culture, geography, institutions and the nature of political leadership. Accordingly, this handbook approaches the challenge of development from an institutional perspective and asks ‘what are the rules and cultural values most conducive to encouraging wealth creation, production and innovation’?

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Nächstes Kapitel A Brief History of Modern Development Thinking

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Titel: Development and Progress
verfasst von: Bryan Cheang
Tom G. Palmer
Verlag: Springer Nature Singapore
Buch: Institutions and Economic Development
Print ISBN: 978-981-9908-43-1

Electronic ISBN: 978-981-9908-44-8

Copyright-Jahr: 2023
DOI: https://doi.org/10.1007/978-981-99-0844-8_1