Infrastructure and Rural - Urban Development.

5083 Words21 Pages
Introduction Infrastructures are basic essential services that should be put in place to enable development to occur. Socio-economic development can be facilitated and accelerated by the presence of social and economic infrastructures. If these facilities and services are not in place, development will be very difficult and in fact can be likened to a very scarce commodity that can only be secured at a very high price and cost. Nigeria Public spending have been geared towards the provision of infrastructures and social services such as schools, hospitals, electricity, water supply etc, while economic activities such as deliberately establishing manufacturing and processing industries…show more content…
Justifying the functional superiority of theories as guide post in all field of human endeavour, Onah(2003) argued that rather than base actions on judgment derived from guesswork or speculations, theories enables a chosen line of action to be anchored in and guided by evidence derived from specific scientific research which makes the consequences of such action fall in line with the intended direction as possible. In this paper, we anchor the effects of infrastructure on urban/rural development in the work of John Maynard Keynes, etc, before taking a look on selected sectors. One of the first systematic attempts to link infrastructure indirectly to poverty reduction was made by John Maynard Keynes in 1936. In The General Theory of Employment Interest and Money, Keynes argues that in an economy characterized by depression and market failure, high public expenditure is necessary to adjust the economy back to high levels of employment. This implies that high public investment in social and economic infrastructure would increase national income, employment and the welfare of people. This theory could be of practical importance in developing countries where the bulk of investment in infrastructure is owned and financed by government, and market mechanisms do not function properly. In these countries almost 70 per cent of infrastructure investments are
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