I read the intro and scanned the TOC. It doesn’t mention property rights.
People who are not secure in their property will be less inclined to generate a surplus. They rightly fear that it will be taken from them, and their efforts wasted.
Also, it seems to define capitalists as people who have more than others. I believe that is a bad definition. A capitalist invests what is surplus to need to generate more wealth. A feudal lord who does so is arguably a capitalist. A feudal lord who does not, is not.
Very informative outline for economic development course however the education element in economic progress is missing in the outline - any suggestions?
I read the intro and scanned the TOC. It doesn’t mention property rights.
People who are not secure in their property will be less inclined to generate a surplus. They rightly fear that it will be taken from them, and their efforts wasted.
Also, it seems to define capitalists as people who have more than others. I believe that is a bad definition. A capitalist invests what is surplus to need to generate more wealth. A feudal lord who does so is arguably a capitalist. A feudal lord who does not, is not.
Bob, maybe you should read the whole thing before you criticise it for what’s missing.
Very informative outline for economic development course however the education element in economic progress is missing in the outline - any suggestions?