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Cracks the secret of economic development for developing countries
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Pathbreaking — Amitabh Kant, CEO of NITI Aayog
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Economic development is the expansion of national capital stock primarily by modernizing all economic activities using technology.
Whereas economic growth means change in GDP over a time period, economic development is the expansion of national capital stock primarily by modernizing all economic activities using technology.
Economic development is when a low-income per capita nation undergoes a process of gradual accumulation and growth of national capital over a time-span, primarily by modernizing all economic activities using technology
Economic development is when a low-income per capita nation undergoes a process of gradual accumulation and growth of national capital over a time-span, primarily by modernizing all economic activities using technology
THE GENERAL THEORY OF RAPID
ECONOMIC DEVELOPMENT
The General Theory of rapid economic development, as developed in this book, 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-industrialized or industrialization-failed countries to achieve a similar or an even better outcome.
Countries
featured
India
China
South Korea
Taiwan
Japan
Malaysia
Thailand
United Kingdom
United States of America
Germany
France
Australia
Saudi Arabaia
Botswana
Chile
Disciplines
engaged
Business
Economics
History
Science
Engineering &
Technology
Presentation
range
460 Pages
97 Graphs
4 Tables
6 Flow Charts
Breadth
involved
An opening Chapter for Beginners
Macro & Micro Scope
Development of Theory
Data & Evidence
Two General Laws Uncovered
Theory to Mechanism
Mechanism to Policy
Case Studies
Application
Country level Analysis
Industry level Analysis
Product level Analysis
Table of Contents
Introduction 1
Part One: Getting Started
1. Concepts, Notions and Terminology 53
2. Early & Late Industrialization 97
Part Two: Theory
Macroeconomics
3. Low Savings Rate in Capitalist Economy 127
4. Restoring High Savings Rate in Capitalist Economy 161
Microeconomics
5. Radical Uncertainty in Industrial Economy 195
6. Restoring Radical Uncertainty in Late Industrializing Economy 215
Part Three: Mechanism
7. The Mechanism of Rapid Economic Development 233
8. The Mechanism of Rapid Industrialization – the Case of China 283
9. The Mechanism of non-Industrial Development – the Case of Botswana and Chile 381
Part Four: Application
10. The Case of India & the Future 405
List of Tables & Figures 441
Index 445
ORIGINAL ANALYSIS TAKEN TO NEW LEVEL
Sample figures from the book
Historical National Income values for East Asian Nations
Historical Capital Income Values for early industrializers and late industrializers
Australia's dependence on mineral exports
Historical National Income values for East Asian Nations
ABOUT THE AUTHOR
SHIVAJI LOKAM
Shivaji Lokam is a twenty-nine-year-old Indian Engineer, Entrepreneur, and Author. He obtained Bachelors in Electrical Engineering from National Institute of Technology Karnataka in 2013 and MBA from Sydney Business School in 2014.
Mr. Shivaji co-founded Starry Technologies Private Limited, a research and business-consulting firm, in 2016. His previous book was The Fall of Western Civilization, published in 2018. He lives in Hyderabad, India.
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