Re: What exactly is "development"?

[Eugene Coyle <eugenecoyle@xxxxxxx>]

Herman Daly draws a careful distinction between "growth" and "development" in his book Beyond Growth.  The book also contains a lovely put-down of Larry Summers from the World Bank days.

Gene

Jim Devine wrote:

It used to be that economists doing "development economics" would
contrast "growth" with "development." Of course, the use of such words
varies a lot and has sometimes undergone reversal. However, back in
the day, the distinction was different from that used by the Indian
government. It was something like the following:

"growth" referred to exchange-value, growth of such things as real GDP
per capita.

"development" referred to growth of use-value, as measured by such
indices as the HDI (human development index) or the GPI (genuine
progress indicator).

see books on development such as those edited by Charles Wilber.

Brad de Long argues that growth leads ot development (as defined
above). Others, e.g., Marx, see a contradiction between use-value and
exchange-value.

On 5/20/06, Louis Proyect <lnp3@xxxxxxxxx> wrote:

Counterpunch Weekend Edition
May 20 / 21, 2006
"Why Treat a Scratch with a Band-Aid When You Can Do an Organ Transplant?"
What Exactly is "Development"?

Jim Devine / "Capitalism is the legitimate racket of the ruling
class." -- Al Capone (attributed)