The General Theory of rapid economic development is a theory that at once successfully and finally explains the crux of the story of the greatest improvement in human lifestyle across the board in the shortest time anywhere in the world in South Korea, Taiwan, and China. The General Theory also provides the practically feasible state mechanisms deployed in the form of industrial policy, monetary policy, and trade policy, for the many other non-industrialised or industrialisation-failed countries to achieve a similar or an even better outcome. Visit www.generaltheorybook.com to learn more

#economicdevelopment #india #economicsbook The is a video introducing the book, The General Theory of Rapid Economic Development. Visit https://www.generaltheorybook.com/ to learn more about the content in this video. The book deals with the greatest issue facing the Global South. That is, the economic development of low-income nations. With access to technology from advanced countries and access to raw materials from the hinterland or from abroad, why those low-income countries continue to remain behind is a question economists struggled for decades and failed to come up with an answer. How South Korea, Taiwan, and China managed to succeed when every other country failed is another question to which nobody has a clue. But author Shivaji Lokam in the General Theory of Rapid Economic Development finally cracks the answers to those grand, elusive questions revealing that the reason low-income countries never developed because they did not overcome the limitations imposed by nature unknown until now. The General Theory is a breakthrough in the understanding of the Miracle of North East Asia paving way for many developing countries like India to chart the most appropriate course going forward and a once-in-a-hundred year rarity that shall transform the subject discipline of economics for the better. With a great degree of reliance on historical national accounts data, capital stock data, and trade data, the title—comprising ninety-seven graphs, four tables, and six flowcharts and spanning 460 pages—accomplishes the rare feat of successfully decoding the Asian Miracle and building a theory for other developing nations to replicate. Book website: https://www.generaltheorybook.com/ Like this video if you are looking forward to its release. Subscribe to this channel to watch quality content on economic development. Music: https://www.epidemicsound.com/track/8Sp6kpcZW9/

Economic development is when a low-income country grows its national wealth to high levels by adding more and more new capital such as