6. How do Marxist and Neo-Marxist models explain the reasons why the underdeveloped countries cannot catch the rich countries? By summarizing the models, explain the extent that the current global order (developed countries) prevents poor countries to catch up the rich countries. At what points can you criticize these models?

6. How do Marxist and Neo-Marxist models explain the reasons why the underdeveloped countries cannot catch the rich countries? By summarizing the models, explain the extent that the current global order (developed countries) prevents poor countries to catch up the rich countries. At what points can you criticize these models?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

See similar textbooks

Similar questions

In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
1. Why do you think many big corporations like Apple, Coca-Cola, Microsoft, choose to manufacture their products in countries located in the Global South than in the Global North? 2. Based in your knowledge, why rich countries become richer and poor countries become poorer? Support your idea.
explain 1.Orthodox or conventional economists say that to address unequal growth between the rich and thepoor, the world economy needs to grow more. Do you agree with this idea? Why or why not? 2.What does the term “de-develop” mean? Is it a positive or a negative idea? 3. According to investopdia.com, a steady-state economy is an economy structured to balance growt hwith environmental integrity, seeking to find an equilibrium between production growth andpopulation growth. This type of economy aims for the efficient use of natural resources but alsoseeks a fair distribution of the wealth generated from the development of those resources. Is thistype of economy more plausible than continued, unlimited economic growth? Why or why not?
1. What is the Philippine Development Program? 2. Which government agencies are participating in the program? 3. According to sources, there is an allotted budget that was borrowed from the world bank. How much is the total borrowed amount by the government and which government agency handled the project? 4. What are the sectors involved in the Development project?
(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.
QUESTIONS FOR ANALYSIS 1. In what ways do these figures demonstrate an inte-grated global economy? 2. What does the GDP graph indicate about how globaleconomic integration affected the U.S. economy?Notice that Japan’s GDP growth remained strong inthe late 1970s and early 1980s. With what historicaldevelopment within the U.S. does that correspond?
Why are some countries today much poorer than other countries? Are today’s poor countries destined to always be poorer than today’s rich countries? If so, explain why. If not, explain how today’s poor countries can catch up or even pass today’s rich countries.
1. What went economically wrong in the Central Eastern European states and in the USSR? 2. Although the problems of the planned economies were already obvious in the mid to late 1970s, why did the system survive so long? (Please argue from an economic not a political- ideological perspective!)
Answer the below questionsa. What do you understand by Real GDP? What is the Real GDP Growth Rate of India and China in 2019? What is the estimated real GDP growth rate of India and China in 2020? What is the projected real GDP growth rate of India and China in 2020 and 2022?b. What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels (January 2020 forecast) in China and Other Emerging Economies in Asia other thanChina?
Image A is typical of images emphasizing the economic consequences of globalization. Does globalization appear to be a force that is subject to human control, why or why not? How would you define globalization? Compare image A with image B. Is there a connection between the accelerating flows of money and goods and restrictions on the movement of people? In image C, the woman's medical mask names globalization as the enemy of workers. What does this say about the local conflict over the conditions of labor in a globalized economy? *******ANSWER QUESTION 3********
1.Why is economics central to an understanding of the problems of development? 2. Is the concept of the developing world a useful one? Why or why not?