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Truth, Errors, and LiesPolitics and Economics in a Volatile World$
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Grzegorz Kolodko

Print publication date: 2012

Print ISBN-13: 9780231150699

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231150699.001.0001

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What Development Is and What It Depends On

What Development Is and What It Depends On

Where Socioeconomic Development Comes from and How It Can Make Us Happy

Chapter:
(p.256) Chapter Seven What Development Is and What It Depends On
Source:
Truth, Errors, and Lies
Author(s):

Grzegorz W. Kolodko

, William R. Brand
Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231150699.003.0007

This chapter discusses how there can be no development and growth without capital, but capital alone does not suffice for development. Other things—phenomena and processes—must happen simultaneously to mobilize capital in ways that would bring about higher output levels and better living standards. Socioeconomic development is an upward movement of the entire socioeconomic system. It occurs through quantitative and qualitative changes in the sphere of production and consumption. Development can also be manifested through the technology of production, methods of management, economic policies, cultural preferences and values, social relations formed within the course of the reproduction processes, and the state of natural environment. The question of output growth and socioeconomic development must be seen as part of a worldwide configuration, laid out in two approaches: the first begins with the economically developed and advanced countries with fixed capitalistic systems; and the other focuses on those that are frequently referred to as “developing” nations.

Keywords:   socioeconomic development, capital, production, consumption, output growth, capitalistic systems, developing nations

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