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- W45351370 abstract "Every contribution to the theory of agricultural development is to be welcomed, if only because this field of enquiry has not been ploughed sufficiently. As Ruttan and Hayami themselves indicate, the concern of economists has been more in the direction of examining the interaction of agriculture and overall economic growth (structural transformation)l than with the process of agricultural development per se. Yet we know that agricultural development is perhaps the most critical problem facing underdeveloped countries today. The bulk of the population in these countries depends on agriculture for its livelihood; so the welfare of millions of people is at stake. And, of course, we now know that overall economic advance by these countries cannot proceed without substantial expansion of agricultural output and improvements in productivity. From this general point of view, then, the Ruttan-Hayami paper can be regarded as a noteworthy contribution. In order adequately to assess the value of this contribution, however, we need to say something about the general usefulness of models in economic analysis. All models are by definition an abstraction of what obtains in the real world. Simplifying assumptions have to be made to avoid the complexities of the real world. Ultimately, the critical factor that determines the usefulness of the model is whether or not what is left out is fundamental in understanding what goes on. We can take one of a number of approaches in assessing a particular model. One such approach is simply to check its internal consistency. Another is to see how well it explains and/or predicts what happens in the real world. This depends ultimately on whether the assumptions of the model correctly represent given situations. It is this second approach that I wish to take in the present exercise." @default.
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- W45351370 modified "2023-09-27" @default.
- W45351370 title "Strategies for Agricultural Development: Comment" @default.
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