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Creating Incentives For Economic Development

  • Stephen Enke
Chapter
  • 12 Downloads
Part of the International Economic Association Conference book series (IEA)

Abstract

If any national economy is to increase per capita income, more rapidly over time than hitherto, there are certain things that its adult population must do. First, its entrepreneurial managers must innovate better methods and more useful products faster, whether they do so on their own account or as government officials. Secondly, people must work longer and harder, and perhaps some persons now outside the regular labour force must become productively occupied. Thirdly, people must save more, and these savings must somehow be invested economically. Obviously, there are many other things that backward but developing countries must attempt, such as expanding exports to attract foreign capital. But the funda mentals of development are more improved technology, more labour effort, and more invested savings.

Keywords

Capita Income Rural Labour External Economy Subsistence Economy Budget Surplus 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 1.
    M. Abromovitz, Resource and Output Trends in the U.S. since 1870. National Bureau of Economic Research, N.Y., 1957, Occasional Paper 53.Google Scholar
  2. 1.
    Galbraith, J. K., ‘A Positive Approach to Economic Aid’, Foreign Affairs, April 1961.Google Scholar

Copyright information

© International Economic Association 1964

Authors and Affiliations

  • Stephen Enke
    • 1
    • 2
  1. 1.Duke UniversityDurhamUSA
  2. 2.University of Cape TownSouth Africa

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