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- Question 1 requires about 2 -3 paragraphs length.
In this discussion question, It is important also to analyze different models such as the command economy, Latin American statism, East Asia's developmental state.
- Question 2: requires also about 2-3 paragraphs length.
Just remember to give me 2 responses to what 2-my classmates did as usual you did help me before.
I will give you this information later.
Please try you best to give me all your solutions by Thursday.
In question #1, a friend of mine did as follows:
I have seen many third world countries raped of natural resources. Trees were a big thing in the Philippines. Once all of these resources are gone they take many years to replace and have to be imported in the meantime. With state intervention these type of resorces can be managed and the country can depend less on imports. I do not belive that the government needs to own everything like allof the natural resources. This may led to them plundering natural resources for their own financial gain. They just need to step in and control what they have so that future generations will have them also. It is had to imagine growing up in a place without forest and trees.
Please give me your comments. Thanks!
PS: Just help me to have 02 comments in all on question #1.
I will give you another one for question #1 in tomorrow.
(I will do by myself for question #2).
Please give me your comment/ideas about what my friend did for question #1. I need your response to each one my friend did.
- I have seen many third world countries raped of natural resources. Trees were a big thing in the Philippines. Once all of these resources are gone they take many years to replace and have to be imported in the meantime. With state intervention these type of resorces can be managed and the country can depend less on imports. I do not belive that the government needs to own everything like allof the natural resources. This may led to them plundering natural resources for their own financial gain. They just need to step in and control what they have so that future generations will have them also. It is had to imagine growing up in a place without forest and trees.
In brief, how much (if any) state interventions is needed for economic development?
There are different opinions concerning the role of intervention needed for economic development. “European nations prior to the eighteenth century saw the state as the source and beneficiary of economic growth.” In this respect, the state had complete intervention. “The recent collapse of the majority of communist nations has shown the weaknesses of state controlled ‘command economies’.” Most countries now adopt an approach which comes somewhere between the state controlled ‘ command economy,’ and the ‘free market,’ which has no government regulation. Regardless, some government regulation is needed to control laws regulating banking, international trade, commerce, and environmental concerns. Concerning how much state intervention is needed for economic development, due to the diversity of the different nations, finding a solution for each would be complicated. But for sure, economic development requires close cooperation between business, agriculture, labor, and a highly skilled government bureaucracy in any nation. This would be complicated because most L-D-Cs do not possess those attributes.
, Handelman, H. (2011). The political economy of third world development. In The challenge of third world development (p. 277).
Boston, MA: Pearson Learning Solutions.
Just do about 4-5 sentences in 01 paragraph for each response.
Here you are:
While I agree that it is unfortunate that countries don't take the necessary steps to protect their renewable natural resources I don't necessarily believe that government regulation provides the complete answer. In many cases such things as trees are 100% renewable and can provide huge profits for companies as well as governments. The country must have companies willing to make such investments. Government regulation could simply lead to government control or the inability to produce wood products as the government may believe that protecting trees is more important than business. I'm not opposed to some areas being marked as national forest in order to protect them like the US but allowing complete government control is also not the answer. I believe there must be some balance in order to protect people and their livelihoods as well as the trees themselves.
I agree with your assessment that government regulation is needed in terms of controlling banking and international trade. The reason is that there must be a set of rules by which everyone plays. Governments role is to set the rules and then let the private market create the products and services that people demand. You are also correct in that command economies where central planners determine the supply of products to produce without knowing demand will result in failure. In some cases government regulation can become so burdensome that the free market isn't allowed to work which can result in failure much like a completely state controlled economy. The primary point is that the role of the government is not one of setting quotas or supply amounts but simply acts as the referee among the individuals in the fair market producing products.