The modern version of the theory is nothing short of a attempts to introduce a comprehensive and integrated programme of industrialization, including within its framework, not only the consumers’ goods industries and social overhead investment but also capital goods industries. This mix includes improvement of the economic structure (key sectors and actors), development of attractive business and living environments, building (ecological and energy) sustainability and human capital development (talent and education). The plan focuses on encouraging business development, entrepreneurship, and workforce development initiatives.
Or, it may refer to the path of economic development and the pattern of investment necessary to keep the different sectors of the economy in a balanced growth relation with each other. Prima facie, he distinguishes between two types of investment choices — substitution choices and postponement choices. Sustainable economic development—economic progress that improves quality of life while preserving resources for the future—is a matter of importance and urgency for everyone.In support of economic growth, governments and companies alike need a sustainable, comprehensive approach to economic development—one that helps them navigate economic challenges such as global crises and conflicts, natural disasters, inequality, and policy changes.Below, we focus on three main approaches to support sustainable economic development: The first element is economics, which includes income, economic stability, and employment dimensions. It is argued that in order to launch development successfully, it is necessary not only to enlarge the size of the market and obtain the ‘internal economies’ of large- scale production, but also to obtain the ‘external economies’ which arise from simultaneously setting up industries which are technically interdependent on each other; while these ‘technical complementaries’ do not normally exist between a horizontal group of consumers goods industries at the same stage of production, they are very important between a vertical group of industries at different stages of production; and since these external economies are particularly important in the capital goods industries which supply each other and the consumer goods industries with various inputs in the form of machinery and semi-processed intermediate goods, the capital goods sector should form an integral part of the balanced-growth programme. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.This shopping feature will continue to load items when the Enter key is pressed. Both sequences create inducement and pressures conducive to growth. He points out that Hirschman’s argument may be illustrated by considering the relation between social overhead capital (SOC) and directly productive activities (DPA). Re-reading The Strategy of Economic Development after so many years reveals anew the chasm between the breadth of economic thought in the years which Paul Krugman called "The High Development Economics" and the misery of the quantitative distortions of complex realities that has dominated the field of economics in the last four decades. The debate about agriculture versus industry in a part of the debate about balanced vs. unbalanced growth and is still going on unabated. November 15, 2019 Dear Governor Mills, Members of the Legislature and residents of Maine, This is a 10-year Economic Development Strategy for Maine. economies, and increasing returns to scale has focused on. It is a dynamic and nonpartisan road- map designed to foster collaboration among the public, private, nonprofit and education sectors for the purpose of creating a diverse and sustainable economy. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws.BCG uses cookies to improve the functionality, performance, and