The name is absent

YEARS

DOMINANT STRANDS

IN DEVELOPED

COUNTRY

THINKING___________

DOMINANT THEMES IN

DEVELOPMENT

ECONOMICS

POLICY

IMPLICATIONS

IMPLICATION FOR C
BEHAVIOUR

COLONIAL PERIOD_____________________________________________________

1850-1950

HUGE VARIATION;
FREE TRADE AND
PROTECTION; MAINLY
Laisser-FAIRE;

MAINLY MONETARIST

ENCLAVE
DEVELOPMENT BY
EUROPEANS
PATERNALISTIC
POLICIES.

COLONIALISM AS
EXPLOITATIVE
IMPERIALISM

LIMITED
INVESTMENT IN
Infrastructu
RE. PRIMARY
PRODUCTION
DEVELOPED
UNDER
COLONIAL
CONTROL_____

LARGELY P/C.

TRADITIONAL SOCI
MIXTURE OF COOP,
AND LIMITED M.

POST-INDEPENDENCE ECONOMIC PLANNING_________________________________

1950S

-1960S

KEYNESIANISM IN
MACRO-POLICIES

NEO-CLASSICAL

TRADE THEORY

GROWTH,
PLANNING AND
INDUSTRIALISATION

Interventioni
ST;

PROTECTIONIST

STATE
OWNERSHIP

P/C WITH COOP
ELEMENTS. M LIMIT

1970S

A. KEYNESIANISM

B. MARXISM

C. NEO-CLASSICAL

REVIVAL

EMPLOYMENT;

REDIST. WITH
GROWTH;

BASIC NEEDS

DEPENDENCY

THE ROLE OF PRICES and
the MARKET in RESOURCE
ALLOCATION.__________

AS ABOVE BUT
WITH MORE
FOCUS ON
EMPLOYMENT
AND POVERTY
REDUCTION

LIMIT MNC
ACCESS

LIBERALISATION AND GLOBALIZATION_____________________________________

1980S

MONETARISM AND
NEO-CLASSICAL ECON.
RATIONAL EXPECT-
ATIONS

PRO-MARKET AND ANTI-
STATE; MONETARISM IN
MACRO-POLICY;

NEW POL.ECON.

ROLE BACK
STATE;

INCREASED

ROLE OF
MARKET

MUCH GREATER RO
FOR M