لایب سان

توضیحات کتاب :

Arguably, the most important question in Economics and probably in social sci- ence is ‘why are some nations rich, and others poor?’ Not only is this an interesting theoretical question, it has practical relevance to human living. According to the World Bank, 9.4% of the global population are still living below the poverty line of US$1.90-a-day (The World Bank, 2020). Understanding the factors that con- tribute to a nation’s economic development will help clarify the path forward for development policymaking. This Companion will explore the phenomenon of economic development and review the leading theories explaining why it is present in some nations and absent in others. Such a task will necessarily require one to be selective, as development studies is a complex field involving various disciplines with no easy answers. Even today, development economists debate the causes of development and how to foster it in poor nations, if at all possible. Before diving into development theories, however, this chapter will first define some basic concepts and establish general facts. The subsequent sections will pin down the concept of ‘economic development’ and provide factual information about changes in living standards over time. We show that a real and sustained improvement in living standards has indeed occurred—called the ‘Great Enrich- ment’ which started in the late eighteenth century onwards. Accordingly, we explore the deep determinants of this development and focus on the rules and values in society which have facilitated this improvement in living standard