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| coberst |
 Posted: Thu Apr 03, 2008 11:06 am Post subject: Why does economic development matter? |
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Forum Senior
Joined: 18 Feb 2007
Posts: 319
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Why does economic development matter?
Is economic development an end-in-itself or is it a means to some other end? What is the telos (ultimate end) of economic development?
The basic needs, as developed by Maslow and probably many others, are fundamentally dependent upon the economies of the nation within which we all live. The economy is not the only affecting reality, there also is social stratification, and other fundamentals, but economic development is a very important factor.
The economic development within a society is governed by many sources; local government, national government, NGOs (nongovernmental organizations), and now a growing globalization ties the whole world together more or less.
Economists generally define the goal of economic development in terms of sustained economic growth, i.e. sustained rise in per capita gross domestic growth, i.e. GDP. Some economists define the goal in terms of equity within development, i.e. growth with equity. If all of the benefits of growth merely make the rich richer and the poor poorer we are not reaching a desirable goal.
There are negative feedback control systems such as a furnace/thermostat or our own bodies. There are positive feedback control systems such as an ordinary fire or our capitalistic economic system.
In a fire the higher the temperature the faster the fuel is burned; the faster the fuel burns the higher goes the temperature. In a business enterprise it is common practice to put a percentage of profit into advertising. More advertising creates greater sales, which mean higher profit.
A negative feedback system seeks out equilibrium; a positive feedback system has no equilibrium and is ever accelerating.
If we have a positive feedback system, such as capitalism being now abetted by Globalism, we face the horrendous situation that the greater the progress the faster the spiral of destruction when considering that the world and humans are negative feedback systems.
If we choose to continue with our present Global/capitalistic program we must find a way to dampen the positive feedback system.
Biologists, and probably other sciences, inform us that human conceit, i.e. human ego, distorts our ability to comprehend our self. Egocentricities motivate us into irrational behavior thereby imperiling our survival; the human animal is arrogant and dangerous. Mark Twain was told that “man is the noblest work of God” to which he replied “Now, who found that out?”
Bernard James, author of “The Death of Progress” argues that perhaps a new moral order might be the solution to acquiring the means to avoid self-extinction. He argues that creation is a function of life. It is inventive acts that govern the evolution and survival requirements of human and ecosystems.
I suggest that we must find a new formula for the encouragement of creativity directed at this monumental problem. This is a problem that demands quick action and it seems to me that we cannot wait several generations for this to be accomplished. Today’s adults must recognize the problem and must energetically seek a solution. I think that an invigorated self-actualization through self-learning by adults is required. I am not talking about more schooling. Schooling has left us learning-handicapped. This effort must be self-learning. Adults must begin a concentrated effort toward developing an intellectual life far beyond that which now exists.
My solution is that the general level of intellectual sophistication of the population is necessary if our species is to survive. Do you have any interest in this matter? |
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| Bunbury |
| Posted: Fri Apr 04, 2008 7:22 am Post subject: |
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Forum Masters Degree
Joined: 26 Sep 2007
Posts: 544
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An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied "only a little while".
The American then asked why didn't he stay out longer and catch more
fish.
The Mexican said he had enough to support his family's immediate
needs.
The American then asked, "but what do you do with the rest of your
time?"
The Mexican fisherman said, "I sleep late, fish a little, play with my
children, take siesta with my wife, Maria, stroll into the village each
evening where I sip wine and play guitar with my amigos, I have a
full and busy life."
The American scoffed, "I am a Harvard MBA and could help you. You
should spend more time fishing and with the proceeds, buy a bigger
boat, and with the proceeds from the bigger boat you could buy several
boats; eventually you would have a fleet of fishing boats. Instead of
selling your catch to a middleman you would sell directly
to the processor, eventually opening your own cannery. You would
control the product, processing and distribution.
"You would need to leave this small coastal fishing village and move
to Mexico City, then LA and eventually NYC where you will
run your expanding enterprise."
The Mexican fisherman asked, "But, how long will this all take?"
To which the American replied, "15-20 years."
"But what then?"
The American laughed and said that's the best part. "When the time is
right you would announce an IPO and sell your company stock to the
public and become very rich, you would make millions."
"Millions.. Then what?"
The American said, "Then you would retire. Move to a small coastal
fishing village where you would sleep late, fish a little, play with
your kids, take siesta with your wife, stroll to the village in the
evenings where you could sip wine and play your guitar with your
amigos."
(An oldie, borrowed this time from here http://scienceblogs.com/illconsidered/2008/01/the_fisherman_and_the_mba.php#more) |
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