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A General Theory of Economic Development - Towards a Capitalist Manifesto (Hardcover)
Loot Price: R2,732
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A General Theory of Economic Development - Towards a Capitalist Manifesto (Hardcover)
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This book makes the bold attempt at proposing a new general theory
of economic development founded on the fact-based perspective of
economic behaviour. The main premise is that economic institutions
and policies must embody 'economic discrimination' if there is to
be any chance of real economic development. By economic
discrimination, the author means 'treating differences differently'
by selecting and supporting economic entities and behaviour that
contribute positively to the economy. By presenting a general
theory that goes beyond mainstream and ad hoc economic theories,
Sung-Hee Jwa provides a new way to look at capitalism beyond the
Marxian interpretation, explaining why some economies develop and
others don't. The book identifies markets, government and
corporations as the 'holy trinity of economic development', that
is, the three most important institutions that must work together
via economic discrimination to steer the economy towards real
transformative progress. It also warns against the current trend of
economic egalitarianism or 'not treating differences differently'
because it destroys economic incentives and results in an array of
economic problems including growth stagnation and worsening income
distribution. The theory presented in this book and its
implications for development management will be an invaluable
resource for development economists, scholars, instructors,
researchers and policymakers.
General
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