These questions are about the USA Industrialization and Economic Development. At least 200 words for each question!
1. What is meant by the term "development" inneo-classic economics? How might your answer to this question be distinct if using a heterodox approach? Explain.
2. What two fundamental questions must all societies face? Why are these questions critical to understand when considering matters of development?
3. Is it possible to have GDP per capita increasing in a country, concurrent with increasingunemployment,increasinginequality,andincreasingpoverty?Howisthe "core" of development ideology understood within the context of the asking and answering this question? Explain.
4. What alternative measures of well-being are introduced by Sen's Capabilities Approach? What does it mean to state that "income and wealth are not ends in themselves"? Explore.
5. What institutions are critical markers within a state of Capitalism?
6. Societies all face questions of production and distribution. What factors help shape decisions regarding these choices? Explain.