Economics of Development or Global Obscenities

Economics of Development

Author: Malcolm Gillis

Adopted at more than 400 colleges and universities worldwide, Economics of Development remains the standard of excellence in its market. That tradition continues with this Fifth Edition in which the all-star team of authors, including newcomer Steven Radelet, introduce a number of important improvements to the book's scope and coverage. Like previous editions, this one benefits from the wide-ranging expertise of its authors, both as researchers and field practitioners, and its approach remains steadfastly pragmatic and authoritative. Now more than ever before, Economics of Development is the book to count on in your development course.

Booknews

Edited by researchers and field practitioners in economics and politics (Harvard, Rice), this is a new edition of a text for use in an undergraduate course in development economics, or as a reference for specialized courses that include development among their topics. The information is organized into five main topics: theory and patterns, guiding development, human resources, capital resources, and production and trade. The new edition includes a new chapter examining neo classic growth theory of the 1950s to more recent approaches to growth. Also new is an emphasis on currency crises and other contemporary financial issues, and a completely rewritten chapter on foreign capital flows. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Table of Contents:

	Preface	xv
	International Development Resources on the Internet	xx
Part 1	Theory and Patterns
1.	Introduction	3
	Terminology: The Developing World	6
	A Development Continuum	10
	A Glance at History	15
	The Concept of Substitutes	18
	Approaches to Development	24
	Organization	26
2.	Economic Growth: Theory and Empirical Patterns	27
	Estimating Gross National Product	28
	Income Levels and Economic Growth around the World: A Brief Overview	35
	The Progression of Growth Theory	39
	The Harrod-Domar Growth Model	43
	Economic Growth in Thailand	50
	The Solow (Neoclassical) Growth Model	52
	Empirical Evidence on Economic Growth	64
	Explaining Differences in Growth Rates	72
	Beyond Solow: New Approaches to Growth	78
Appendix	Deriving the Sources of Growth Equation	80
3.	Structural Change	83
	Two-Sector Models	88
	Labor Surplus in China	95
	Labor Surplus in Africa	98
	Industrial Patterns of Growth	99
	Quantitative Interindustry Models	104
4.	Development and Human Welfare	115
	Concepts and Measures	118
	Patterns of Inequality and Poverty	129
	South Korea	134
	Brazil	135
	Sri Lanka	136
	Theories of Inequality and Poverty	136
	India	137
	Strategies for Growth with Equity
Part 2	Guilding Development
5.	Guiding Development: Markets Versus Controls	151
	Managing Development	151
	The March Toward Markets	159
	The Declining Effectiveness of Industrial Policy: Korea from the 1960s to the 1990s	164
	Implementing Market Reforms	169
	China Joins the WTO to Speed the Transition to the Market, 1999-2000	171
	Stabilization That Worked: Bolivia 1985-86	178
	The Transition to a Market System	187
	Stabilization and Deregulation, Indonesia 1986-90	192
6.	Sustainable Development	195
	Market Failures	197
	Soil Erosion in Java, Indonesia	200
	Policy Solutions	207
	Communal Forest Management in India	209
	Reducing Water Pollution from Palm Oil Mills in Malaysia	216
	Policy Failures	220
	Subsidized Deforestation of the Amazon	221
	Kerosene Subsidy in Indonesia	223
	Valuing a Recreational Facility in Bangkok, Thailand	225
	Measuring Sustainability	225
	Sustainable Developments in Malaysia	230
	Global Sustainability	232
	Environmental Degradation and Income Levels: Three patterns	236
Part 3	Human Resources
7.	Population	245
	Demographic Measures	246
	A Brief History of Human Population	248
	The Present Demographic Situation	252
	The Demographic Future	258
	The Causes of Population Growth	259
	Analyzing the Effects of Rapid Population Growth	265
	Population Policy	271
	Population and Family Planning in Kenya	272
	Population and Family Planning in China	274
	Population and Family Planning in Indonesia	276
8.	Labor's Role	281
	Analyzing Employment Issues	282
	Primary Education and Child Labor in India	286
	The Urban Informal Sector in Indonesia	290
	Labor Reallocation	294
	Employment Policy	302
	Employment Creation Strategies	318
9.	Education	319
	Trends and Patterns	320
	Education in Indonesia	322
	Education's Role in Development	329
	Educational Policy in Kenya and Tanzania and Its Results	340
10.	Health and Nutrition	345
	Health in the Developing Countries	346
	HIV/AIDS in Africa	350
	Health in Sri Lanka	354
	Effects of Health on Development	354
	Environmental Health	358
	Malnutrition	359
	Medical Sevices	366
	Supplying Medicines to Poor Countries	370
	Health Services and the Market	371
Part 4	Capital Resources
11.	Capital and Saving	377
	Saving and Investment: The Basic Data	379
	Investment Requirements for Growth	382
	Sources of Saving	387
	Determinants of Private Saving	395
	Foreign Saving	404
	Foreign Aid	408
12.	Fiscal Policy	420
	The Government Budget: General Considerations	421
	Government Expenditures	422
	Project Appraisal and the Capital Account	432
	Tax Policy and Public Saving	442
	Tax Rates and Smuggling: Columbia	445
	Tax Administration in India and Bolivia in the 1980s	451
	Lessons From Comprehensive Tax Reform: Colombia	453
	Taxes and Private Investment	457
	Income Distribution	461
	Irrigation and Equity	471
	Economic Efficiency and the Budget	472
13.	Financial Policy	476
	The Functions of a Financial System	477
	Inflation and Savings Mobilization	482
	Hyperinflation in Peru: 1988-90	486
	Interest Rates and Savings Decisions	495
	Financial Development	499
	Small-Scale Savings and Credit Institutions: Bangladesh and Indonesia	511
	Monetary Policy and Price Stability	512
14.	Private Foreign Capital Flows, Debt, and Financial Crises	521
	Foreign Investment and the Multinationals	523
	Foreign Debt	535
	The 1982 Mexican Debt Crisis	548
	Debt Relief in Uganda	554
	Emerging Market Financial Crises	556
	Self-Fulfilling Creditor Panics	566
Part 5	Production and Trade
15.	Agriculture	577
	Agriculture's Role in Economic Development	578
	Land Tenure and Reform	584
	Technology of Agricultural Production	593
	Mobilization of Agricultural Inputs	604
	Labor Mobilization in Chinese Communes	607
	Agricultural Price Policy	612
16.	Primary Exports	619
	Export Characteristics of Developing Countries	619
	Comparative Advantage	622
	Primary Exports as an Engine of Growth	626
	Recent Empirical Evidence on Primary-Export-Led Growth	632
	Barriers to Primary-Export-Led Growth	634
	Primary-Export-Led Growth in Malaysia	636
	Ghana: A Case of Arrested Development	640
	Nigeria: A Bad Case of Dutch Disease	649
	Indonesia: Finding a Cure	650
17.	Industry	652
	Industry as a Leading Sector	652
	Investment Choices in Industry	661
	Township and Village Enterprises in China	674
18.	Trade and Development	677
	Import Substitution	680
	Import Substitution in Kenya	702
	Outward-Looking Trade Strategy	705
	World Trading Arrangements	723
	Trade Reform in Mexico, 1985-89	724
19.	Managing an Open Economy	734
	Equilibrium in a Small, Open Economy	735
	Tales of Stabilization	749
	Pioneering Stabilization: Chile, 1973-84	754
	Recovering from Mismanagement: Ghana, 1983-91	758
	Accumulating Reserves: Taiwan, 1980-87	760
	Bibliography and Additional Readings	A1
	Index	A31

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Global Obscenities: Patriarchy, Capitalism, and the Lure of Cyberfantasy

Author: Zillah Eisenstein

"Eisenstein's lucid analysis is formed around the factual datum of the global cybereconomy, which even a cursory glance reveals as appallingly inequitable: 'Eighty-four percent of computer users are found in north america and northern europe.'"
—Signs

The New York Times devotes the cover of its magazine to America's declining interest in politics and its obsession with money, finance, and the markets. Bill Gates builds a $50 million mansion while food pantries and homeless shelters overflow with the desperate. The explosive expansion of media and cyber conglomerates creates dreamworlds while the ecology of our actual world is jeopardized. Public space and public democracy withers, as is evidenced by the fact that the closest facsimile of a town square is the local Barnes and Noble.

New geographies of power are defined by sex scandals, plant closings, cyberporn, sweatshop labor, information webs, and stock market schizophrenia. Global capitalism and its cyberrelations use this chaos to construct modern forms of sexual and racial exploitation.

Into this world steps Zillah Eisenstein, with a book of profound despair and yet also great hope, informed by her trademark sharp analysis and her unrelenting passion for a more humane world. Exposing the purported democratic effect of new media for the global mirage it is, Eisenstein shows how transnational capital and its patriarchal obsessions threaten us all, while at the same time creating possibilities for a new democratic society.

Publishers Weekly

A noted feminist and professor of politics at Ithaca College, Eisenstein (The Female Body and the Law) here combines concern for Third World women and girls with political statistics designed to jar First World readers out of what she sees as deplorable apathy. Striving to investigate global capitalism, patriarchy, new media and feminism's place in a technologically focused society, Eisenstein also explores sex scandals, Princess Diana memorabilia, Marxism, dysfunctional families, state parks, Chernobyl and cyber-anonymity. Her insight and carefully directed rage surrounding topics such as sweatshops and telecommunications law is obscured by diatribes about Gennifer Flowers and Pizza Hut. After these lengthy harangues, she switches from accuser to hopeful dreamer, outlining possibilities for worldwide gender and economic equality and cyber equity, citing advances such as the rise of the "grrrl movement" and electronic spaces for women such as FemiNet Korea. Although her passion is admirable and her research impeccable, Eisenstein's ambitious, all-inclusive method and penchant for rant tend to drown the messages she is trying to convey, and prevent deep analysis. She proves adept at delineating the political and economic issues surrounding cyberspace, but will have a tough time here with the unconverted. (Nov.)