Theories of Development Term Paper Example | Topics and Well Written Essays - 1250 words

Theories of Development - Term Paper Example In this paper, I will argue that neo liberalism supports growth and promotes efficiency. This paper will include arguments regarding how neo liberalism has a positive effect on economic development. The paper will begin with introduction of neo liberalism. After that arguments in favor of neo liberalism will be discussed. In the end arguments against neo liberalism will be discussed and refuted. Neo Liberalism became popular in the later periods of 20th century. This school of thought became famous at a time when Keynesianism was declining in popularity. Also the notion of free market and private enterprise became the reason of popularity of neo liberalism all over the world. The growth of private enterprises, alongside with growth of capitalism paved the way for the acceptance of neo liberalism. This particular school of thought was in line with the overall spirit of capitalism and denied governmental intervention in the market. The deregulation that neo liberalism advocated also had cultural affects and therefore this school of thought became famous among economists all over the world. Neo liberalism questioned the utility of government intervention in the economy and therefore advocated free markets and free enterprises. Government intervention assumes that government knows everything about the market and is able to make the best possible decision. This assumption was questioned by neo liberalist economists. They argued that the role of government is not in the best interests of the economy and therefore government should let the markets decide about their course of action. Also on the issue of employment determination, neo liberalist argued that market forces were in a better position to make efficient decisions than government. This is how neo liberalism discourages the role of government in a particular economy. Neo liberal economic theory was attractive for the world because of the freedom it offered to both individuals and

Gandhi Essay Example | Topics and Well Written Essays - 750 words

Gandhi - Essay Example Capitalism has generated desires that were non-existent by means of promoting luxuries and comforts into necessities. Gandhi’s denunciation of capitalism is based on a profound revulsion of a system where profit is allowed to degrade human labor, where the machines are valued more than human beings, where mechanization is preferred to humanism. Gandhi is against this basic philosophy of modern society. He finds two objectionable and unethical principles at its very foundation: - ‘might is right’ & ‘survival of the fittest’. The first justified the politics of power as propounded earlier by Machiaveli; the second propagated the economics of self-interest as proposed by Mercantilists and later by Adam Smith. The ‘Mahatma’ was not, as commonly perceived, totally against modern civilization. He saw great merit in the organizational and democratic systems of modernism. He was also much taken with the modern doctrines of human equality and human rights. Gandhi felt the apparent benefits of modernism were of a vastly dubious nature. For example modern medicine created patterns of addiction which were highly abnormal and modern transportation, far from making life simpler, in reality helped to spread disease. Wisdom, that should have benefited mankind, had been relegated to information & scientific knowledge in quest of power and decency, equ ­ated with liberal self-interest, had become a form of caution. Gandhi was not in opposition to technology per se but to technologism, which was a circumstance that created a hierarchical connection between man (those possessing technology) and man (those who do not), and man and nature. Gandhi claimed that he had no design on technology as such and had no intent to put back the hand of the clock of evolution. No disorder had been created by technology that could not be corrected. It was a psychological state that had to be put right.2 He believed in the model of economic self-