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A learn of ethico-economic theorizing on socio-economic improvement, this booklet examines severely the perspectives at the moment held by way of theoreticians' accomplished suggestion of the realm view in improvement conception, then reconsiders quite a few international matters, either in theoretical and utilized perspectives.
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Additional info for Comparative Development Studies: In Search of the World View
It can therefore be concluded that there has not emerged a world view in economic theory, other than the recognition of market media for the formation of price and value. It is essentially in the perspective of polity-market interactions that economic theory can merge with a theory of democracy. The theory of democracy would then exist as a politico-economic world view. 5 COMPARATIVE DEVELOPMENT STUDY AND ECONOMIC THEORY The quest for a scientific basis of comparative development study has now taken us through a labyrinth of economic doctrines.
The family of possible expansion paths of the economy is then represented by the trajectories like aa·, bb·, ab·, ba·, etc. These represent different substitution possibilities between XI and X2 with shifts in the production possibility curve responding to technological change or income augmentation. The same formalization holds when XI denotes two investment goods. In this case, capital valuation is at issue. The relative rates of return take the place of relative prices of consumer goods. The other formalization remains the same.
Comparative development study thus continues to be influenced by the inherently pluralistic elements of these economic doctrines. A principal aim of comparative development study must then be to develop the worldview outlook within which comparative doctrines can either be unified or be addressed analytically. This, indeed, will be the approach to comparative development study that we will adopt in this work. An initial direction for the study of comparative development in the above perspective can now be given.