Economic policy efficiently, Microeconomics

Assignment Help:

Economic policy efficiently:

The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but the under-utilisation of these resources. Today, developing countries are not utilising more than 15 per cent of the potential capacity of human beings, owing to inadequate expertise and deficient systems of public administration. The people inhabiting the developing world expect their governments to pull them out of the morass of distressing underdevelopment. This would be possible, provided the efforts of the governments in the developing countries are comprehensive, and selective. Besides, timely action backed by a strong will and determination at all decision-making and operational levels alone can change the complexion of our socio-economic scene.  However, personnel must realise that development must be indigenous and not based on foreign models. After over  a quarter of a century's experience and experiments with development models based on Western systems, we find that this model stands as 'the God that failed'. Noble Laureate Ian Tinbergen has said: "The poor countries should  reject the aim of initiating Western patterns of life. Development is not a linear process, and the aim of development is not to catch up, economically, socially, politically or culturally. Many aspects of Western life have become wasteful and senseless and do not contribute to people's happiness. For poor nations to attempt to imitate the rich may only mean that they trade one set of problems for another and in doing so discard or destroy much that is valuable in terms of their human resources and values." Thus, the personnel administration must take note of the fact that the final aim of development must be the constant increase in the well-being of the entire population on the basis of its full participation in the process of development and a fair distribution of benefits therefrom.   


Related Discussions:- Economic policy efficiently

Is there any relation between inflation and unemployment, Is there any rela...

Is there any relation between inflation and unemployment?  The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He foun

Explain features of outward-oriented and inward-oriented, The main features...

The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier

Labor-leisure analysis, Joe won $365,000 a year for life in the state lotte...

Joe won $365,000 a year for life in the state lottery. Use a labor-leisure choice analysis to answer the following: a. Show how Joe’s lottery winnings affect the position of his b

Define the price elasticity, Price elasticity is used in economics to deter...

Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri

Construct anova design matrix - right reference cell coding, 1. Consider th...

1. Consider the following 2-way ANOVA Table with the group number listed in the cells of the table. Factor B=1 B=2 B=3 B=4

Market Analysis, Is coca-cola an oligopoly or monopolistic competition

Is coca-cola an oligopoly or monopolistic competition

Protectionism and free trade, reasons for and against free trade with forei...

reasons for and against free trade with foreign sector

Rational producer, would a rational producer be concerned with the average ...

would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?

Gasoline rationing, Gasoline Rationing - In the year 1974 and again in ...

Gasoline Rationing - In the year 1974 and again in the year 1979, the government imposed price controls on gasoline. - This resulted in scarcity and gasoline was rationed.

Capital formation, Capital formation: Growth Economists believe that ...

Capital formation: Growth Economists believe that accumulation of capital is one main source of growth of an economy. Emphasis is given to the accumulation of more capital pe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd