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- W2159809144 abstract "Recently, the spectacular growth performance of some developing countries has fanned the fires of neo-classical illusions. This growth euphoria has led doctrinaire economists to advocate decrepit 'trickle down' theories to promote development, despite the evidence that such growth has exacerbated poverty and inequality and failed to satisfy the basic needs of the vast majority of the populations in developing countries. The ideological propaganda on growth has led to generalize special cases as panaceas for development. This dangerous outcome is counter productive and could to myopic policy prescriptions that would retard growth and development in the long-run.. It is acknowledged that the stellar growth performance of some developing countries has made a severe dent in the radical polemics that allege that capitalist development only leads to the marginalization of the peripheral economies. However this does not warrant the termination of the radical debate on dependency because such debates unearth valuable insights on the dialectical nature of the development process. The cavalier dismissal by some in the academia, that the demands for a New International Economic Order is bad economics stands challenged by the North-South dialog spearheaded by the radicals because in sheds light on the frustrations and deprivations of two-thirds of mankind of basic human needs.Therefore, a well structured development economics curriculum should include the study of core elements such as: pluralistic and interdisciplinary dimensions of development, the critical insights on development that is provided by the radical dependency theorists and international dimensions of development that is highlighted in the North-South dialogue. Besides, there should be instructions on planning and cost-benefit techniques that equip researchers and policymakers to undertake the empirical testing of key hypotheses." @default.
- W2159809144 created "2016-06-24" @default.
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- W2159809144 date "2012-06-19" @default.
- W2159809144 modified "2023-09-26" @default.
- W2159809144 title "Growth Euphoria, Academia and the Development Paradigm" @default.
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