Modernization theorists see large corporations as. The Modernization Theory Of Economic Development Economics Essay 2022-10-16
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Modernization theorists see large corporations as essential agents of change and progress in society. According to this perspective, the growth and expansion of large corporations leads to economic development and the adoption of new technologies, which in turn drives social and cultural change.
Modernization theory arose in the mid-20th century as a way to understand the process of industrialization and economic development in the developing world. It was based on the idea that societies progress through a series of stages, starting with traditional, agrarian societies and eventually culminating in modern, industrialized societies. According to modernization theory, the key to achieving economic development is the adoption of Western-style capitalism, with its emphasis on free markets, private property, and the growth of large corporations.
Large corporations are seen as important drivers of economic development because of their ability to invest in new technologies, expand production, and create jobs. They also play a key role in the global economy, as they are able to access markets and resources in a way that smaller firms cannot.
However, modernization theory has been criticized for its overly simplified view of social and economic change. It has been argued that the focus on large corporations and economic development has led to a neglect of other important social and cultural factors. Additionally, the growth of large corporations has often come at the expense of local communities and the environment, as they have been known to engage in practices such as outsourcing, environmental degradation, and exploitation of workers.
In conclusion, while modernization theorists see large corporations as essential agents of change and progress in society, this view has been challenged by those who argue that the focus on economic development has led to a neglect of other important social and cultural factors. The role of large corporations in driving economic development and social change remains a complex and contentious issue.
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According to the dependency theory, the international system has a prevalent form of capitalism which could be financial, commercial or industrial in nature. However, these countries would require support from the West - through their governments and companies - to do so. Criticisms Much of the criticism modernization theory has garnered stems from the proponents of They argue that this unequal relationship is preserved by the purported exploitation which world trade embraces. This is attributed to the fact that nations have varied comparative as well as absolute advantages and hence varied production levels. Moreover, the dominance of intelligence agencies and the military assured political stability. An entrepreneurial class expands and profits are protracted back into the economy through the increased investment. Modernization theorists see large corporations as -offering little to help poor nations seeking to develop.
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Washington, DC: Brookings Institution Press. Berkeley, CA: University of California Press. When, for instance, a government official or a CEO gives a job to someone based on blood-kinship, ethnic group identity or friendship as opposed to individual merit , the best of human capital would be underutilized. New York, NY: Scribner. New York, NY: Free Press. False Incorrect Answer: a Page Reference: 428 Skill: Conceptual 57 The economy did not emerge as a distinct social institution until the Industrial Revolution. There is also a competitive degree in the capital concentration and rivalry in the power concentration and the form of trade embraced is mercantilist in nature.
In Delanty, Gerard; Isin, Engin F. Herein, individuals are judged by universal standards applicable, in principle, to everyone in society. American Political Science Review. George of Princeton University. However, while it focuses on cultural barriers, some modernisation theorists, such as Jeffery Sachs 2005 , consider economic barriers to development. This can lead to scenarios where children are expected to quit school at a young age to take care of parents or grandparents rather than continue pursuing education. Haiti: A historical perspective.
This is because they lack the type of capital needed for it e. The Limits of Westernization: American and East Asian Intellectuals Create Modernity, 1860—1960 2019. Original work published 1904. New York, NY: Cambridge University Press, 2005. London: Routledge Press, 2017, Ch. Intl Food Policy Res Inst.
They believe capitalist development aims to generate more wealth and extract cheap raw materials and labour from developing countries to benefit developed nations. Cambridge: Cambridge University Press, 2000. Galeano, for example, stresses the dehumanizing impact of this on local populations. Neo-liberalism has also charted an unparalleled path towards economic growth. Janos, Politics and Paradigms: Changing Theories of Change in Social Science.
Modernization theorists see large corporations as?
Moreover, ardent advocates of free enterprise, such as Ludwig von Mises, have harshly criticized foreign aid programs for their promotion of waste, abuse and fraud in developing countries Thornton, 2002. Society has become willing to take more risks and invest beyond subsistence production. When a country records a positive economic growth its production possibility frontier curve shifts to the right and this does not guarantee its economic development. For example, car plants or conveyor belts, etc. This theory is also termed as neoclassical theory of economic development which favors reduced government control in the economy due to the nation that state involvement in an economy led to inefficiencies that deterred economic growth and development.
A country is said to be modernized when it has embraced modern and advanced technology. For countries hence to achieve an economic growth rivaling that of the developed nations, it is imperative that the government role in the economy be lessened to a bare minimum and the market forces be given room to thrive. Comparative Studies in Society and History. The modernisation of Russia, 1676—1825. Theoretically, in a meritocratic society, those who work hardest and are the most talented will be rewarded with success, power, and status.
SAPS have however failed to bring about economic development but instead lead to the misery of many in the less developed countries. Impediments to Development Parsons characterized many indigenous practices, rituals and institutions as utterly hostile to progress. For global poverty to be reduced, gender and ethnic inequality must be reduced. Haitians do not lack the desire to make their lives better, nor do they reject hard work. However, when men in poor nations acquire extra money, they often spend it on alcohol, tobacco, and gambling. For example, car plants or conveyor belts should be utilised. Second, Haitians have high levels of social mistrust and a low sense of personal responsibility.
Modernization theorists see large corporations as a offering little to poor
Dependency theories According to the dependency theories, the core meaning of development was economic growth due to accumulation which saw or rather led to the development of underdeveloped economies. He emphasized on investment though he did not indicate if it was to be done efficiently or it was used on luxury goods. Others argue that As Tipps has argued, by conflating modernization with other processes, with which theorists use interchangeably democratization, liberalization, development , the term becomes imprecise and therefore difficult to disprove. Such factors include the degree in which nations resources are distributed as well as the structural policies which govern the manner in which the social development and infrastructure are organized. Filozofia Bliższa życiu: Wyższa Szkoła Finansów I Zarządzania in Warsaw.
Modernization theorists see large corporations as a offering little to help poor
New York: The Free Press, 1992, pp. Johns Hopkins University Press. The theory implies that people in poor nations must learn the proper beliefs, values, and practices to succeed economically. False Correct Answer: b Page Reference: 430 Skill: Conceptual 63 Agricultural production is part of the primary sector of the economy. According to the theory, Western European nations began to emerge several centuries ago as economic powers because their populations adopted the kinds of values and practices just listed. Talcott Parsons on institutions and social evolution: selected writings.
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