By Paulus Antonius Maria Philips
Since the tip of the second one global warfare designated foreign curiosity has been dedicated to the economically' underdeveloped nations. The query is, in what approach can the welfare of those societies be quickly elevated and their way of life raised. a big quantity of literature in this topic has been released within the final decade and lots of overseas organi zations are engaged upon the research of the matter, which - to cite VAN BEUKERING - resolves itself into as many difficulties as there are underdeveloped components 1. a lot fruitful paintings has already been performed during this box, and in the various nations concemed the previous financial tree has already positioned forth a couple of clean shoots. but the matter of improvement quite often isn't any new dis covery. improvement within the feel of differentiation and speciali zation of guy and types of society 2 has, after all, regularly existed. The family among people are reciprocal, as are these among countries. This reciprocal dating is without doubt one of the most vital features of colonization, that's a spread of social instead of of territorial boundaries.
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Extra info for Public Finance and Less Developed Economy: With Special Reference to Latin America
1 What now are the consequences of the 'demonstration effect on the international plane' in general and, in particular, for the poorer countries in the world to-day? To begin with, it may be stated that imitation as a result of 'demonstration' is a general phenomenon. It operates everywhere, but not everywhere does the attraction of advanced living standards have the same intensity, nor is the effect everywhere similar. It is evident that, in the private as weIl as in the government sector, assimilation and adaptation of 'superior' habits of consumption take place more quickly than the adoption of improved production techniques.
1 Of course, we are concemed with the transitional stage but the form of action to be taken to reach the desired end-structure, has to take into account 'what is' - thus, the factors determining the historical rate of growth. But the end-structure itself depends upon these factors. It is worthwhile making some brief remarks on the level and the structure of the final stage. It might be thought, that the objective pursued by an underdeveloped economy in the transitional stage would lead to an end-structure which is on a par with that of an advanced economy.
The extent of this rise depends on the elasticity of export supply, which elasticity is less in the case of agricultural products than in the case of mining. It might be assumed however, that the supply of primary products - and a fortiori of the export sector - is on the whole, not flexible over a short period of time. The profit inflation in the primary sector leads to an expansion of production, whereby more labour is absorbed from the self-sufficient sector. As a result, the total labour income and, at the same time, the domestic demand for consumer goods increases.