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Today, a large number of scholars studying development understand
this process as involving learning and capability building.
Capability building is an active, not a passive, process. It
requires a purposeful effort from the learner's side, with support
and commitment on allocation of time and resources toward learning
activities. This process implies the possibility of failure as well
as success, as we also learn from failures. A global cast of
academics and policy makers examines economic development as a
process of learning and technological accumulation, showing how
economic development is a process involving creative destruction.
While markets and market competition play major roles in
structuring the development process, non-market institutions and
government policies matter.
Today, a large number of scholars studying development understand
this process as involving learning and capability building.
Capability building is an active, not a passive, process. It
requires a purposeful effort from the learner's side, with support
and commitment on allocation of time and resources toward learning
activities. This process implies the possibility of failure as well
as success, as we also learn from failures. A global cast of
academics and policy makers examines economic development as a
process of learning and technological accumulation, showing how
economic development is a process involving creative destruction.
While markets and market competition play major roles in
structuring the development process, non-market institutions and
government policies matter.
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