Developmment aceleration - a practical methodology

Subramaniam, Viswanatha (2021): Developmment aceleration - a practical methodology.

Abstract

The prime Economic classification of the nations are "Developed/ Developing/ Under developed". In the history, we are yet to see a country in the developing/under-developed category, moving towards a developed status. This was correctly questioned by the Nobel Laureate in Economics (1979), Arthur Lewis (1915-1991) as “Is the dependence of the developing world growth on that of the developed - world inevitable ?". Development is found to be directly related to the savings among domestic households. Saving in turn, depends of the cost of essentials needs, namely Food, Shelter and Clothing. People migrate towards nations providing a saving platform. The developing nations attract foreign investment, with many economic incentives. This is an added dependence with profit oriented corporate units, providing only large volume employment, without any commitment to upgrade the domestic techno-commercial/economic infrastructure. These thoughts were exposed to a team of 14 diversified, but critically responsible persons in different nations, committed and working towards an accelerated Socio-Economic development. Based on all these approaches, a Geometric model is developed. This aims towards boosting the domestic savings to support domestic investments, and to improve the quality of domestic human potential to man the domestic technology. Both these should be maintained and monitored by the optimum infrastructure mix. Techno-commercial systems assist to develop the technology, and optimise the resource utilisation. This model is developed in the form of two intersecting circles, one linking the domestic savings with the domestic investments, and the other linking the domestic human potential with the domestic technology. The former represents the external entrepreneurial activity, designated as "Exogenous", and the latter involving internal productive activity, is designated as "Endogenous". A geometric approach is used to solve these two intersecting circles, aiming towards a central objectives of integrating the Exogenous and Endogenous aspects. This will upgrade the socio-economic status, and enlarge the qualitative and quantitative outputs. The inference derived from this indicate that, the attempts to accelerate the pace of socio-economic development should be to encourage equal efforts in both the Exogenous and Endogenous aspects, updating the technology towards the latest in the world as applicable to the local conditions. The qualitative and quantitative dimensions of the economy could be improved by expanding the operating dimensions in both the Endogenous and Exogenous aspects, in equal magnitude. The past and current experiences of the developing and the developed world, support this model solution.

• Item Type: MPRA Paper
• Language: English
• Keywords: Acceleration, Bi-circular Model, Decision Methodology, Developed, Developing, Domestic, Economic Development, Econometric Model, Geometric Model, Investment, Management, Manpower, Productivity, Savings, Social, Development, Socio-Economic Development, Technology, Under Developed
• Subjects: A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C51 - Model Construction and Estimation; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C52 - Model Evaluation, Validation, and Selection; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67 - Input-Output Models; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D78 - Positive Analysis of Policy Formulation and Implementation; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D84 - Expectations ; Speculations; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M2 - Business Economics > M21 - Business Economics; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development; P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P27 - Performance and Prospects

References

A. Selected Economic Writings of Sir.W.Arthur Lewis. Editor : Mark.Gersovitz. 1983

A1. The Slowing Down of the Engine of growth (The Nobel Prize Lecture in Economic Science, Stockholm, Sweden, 1979). Pages 283-292.

A2. Development and Distribution. Pages 446-456.

A3. Thoughts on Land Settlement. Pages 563-571.

A4. A Review of Economic Development. Pages 653-668. (Richard.T.Ely Lecture)

A5. The Shifting Fortunes of Agriculture. Pages 615- 622.

B. Research Publications by the Author

B1) A Redefined Productivity Model & Socio-Economic Development Oriented Management Decisions. ALTIJARAH, Monthly Economic Magazine of the Sharjah Chamber of Commerce & Industry. UAE. May 2001 - Pages 26 to 28, September 2001 - Pages 20 to 41, March 2002 - Pages 32 to 35.

B2) Corporate Infrastructure for 5th Generation Computers. INDIAN MANAGEMENT, Journal of the All India Management Association,. June 1985. Pages 19 to 28.

B3) Mrs. Gandhi Gave New Economic Approaches. Barbados Advocate (Daily News Paper), Barbados, West Indies. January 8, 1985. Page 4 - Centre Page Article.