ECONOMIC DEVELOPMENT

PRACTICAL WORKSHOP ON THEORIES OF ECONOMIC DEVELOPMENT

Presented by:

Karen Viviana Florez Alvarado ID 308574

Luisa Fernanda Gonzalez Amaya ID 626817

Javier Enrique Molina Lozano ID 608034

Mercy Arizaly Tique Lozano ID 508936

Group: 24

NRC 3311

Tutor:

Claudia Marcela Abello Avila

BUSINESS ADMINISTRATION PROGRAM

BOGOTA

2020
 COMPARATIVE TABLE ON THEORIES OF ECONOMIC DEVELOPMENT

THEORIES OF GEOGRAPHICAL CAUSES THAT CHARACTERISTICS CONSEQUENCES

ECONOMIC FRAMEWORK GAVE ORIGIN TO THAT DISTINGUISH OF ITS
DEVELOPMENT ITS APPEARANCE IT FROM OTHER IMPLEMENTATION
THEORIES IF APPLICABLE

DEPENDENCY THE DEPENDENCY "RAÚL PREBISCH, DEVELOP AN IT HAS A GREATER

THEORY THEORY AMERICAN CREATES A MODEL EFFECTIVE IMPACT ON THOSE
IN 1950 IN A WHERE ITS MAIN INTERNAL DEMAND OPERATIONS
RESEARCH BY THE OBJECTIVE IS TO IN TERMS OF WHICH ARE
ECONOMIC CREATE NATIONAL INDIRECT
COMMISSION FOR CONDITIONS MARKETS, THE COMMERCIAL
LATIN AMERICA WITHIN A INDUSTRIAL TRANSACTIONS,
AND THE COUNTRY": SECTOR IS FUTURE TRADE
CARIBBEAN EXCHANGE RATE, IMPORTANT FOR CONTRACTS AND
(ECLAC) FISCAL POLICIES, NATIONAL SPECULATIONS OF
INCOMING OF DEVELOPMENT, TRANSPORTATION
FOREIGN CAPITAL; INCREASES PRICES, PRICES OF
AMONG OTHER; INCOME FOR CONSUMABLES
WHICH WERE RE- WORKERS TO AND PRICES OF
EVALUATED BY GENERATE FUTURE CROPS
FOSTER CARTER GREATER DEMAND WHEN THEY
FINDS THAT NEO IN THE NATIONAL DEPEND ON
MARXISM IS THE MARKET, WEATHER
BASIS FOR THE RESEARCH CONDITIONS.
THEORY OF DEVELOPMENT
INDEPENDENCE. CENTER OF THIRD
WORLD
COUNTRIES

WORLD SYSTEMS 1960S STATE IT ARISES OUT OF ECONOMIC DETERIORATION

THEORY UNIVERSITY OF THE NEED TO MIRACLE OF OF THE AMERICAN
NEW YORK RAISE THEIR CENTRAL ASIA. HEGEMONY OF THE
BINGHAMTON POSITION AND ECONOMIC CAPITALIST WORLD
QUALITY OF LIFE STAGNATION OF ECONOMY........
OF THIRD WORLD SOCIALIST STATES. DETERIORATION
COUNTRIES DETERIORATION OF THE AMERICAN
OF AMERICAN HEGEMONY OF THE
HEGEMONY OF THE CAPITALIST WORLD
CAPITALIST WORLD ECONOMY...
ECONOMY

THEORY OF IT GAVE ITS IT EMERGES FOCUSES ON THIS THEORY

GLOBALIZATION BEGINNINGS FROM THANKS TO THE CULTURAL, STATES THAT THE
MARCH 1973, IN NEED FOR GLOBAL ECONOMIC AND MAIN
THE MIDDLE OF COMMUNICATION COMMUNICATION COMMUNICATION
THE 70'S AND GLOBAL ASPECTS ON A PATTERNS AND
BEGINNING THE ECONOMIC GLOBAL SCALE LIFE STANDARDS
80'S TRANSACTIONS ORIGINATED IN
DEVELOPED
REGIONS,
HIGHLIGHTING THE
PERSPECTIVE OF
MODERNIZATION
AND
GLOBALIZATION

THEORY OF ITS BEGINNING IS FOR THE REALITY I DEVELOP PEOPLE HARMONY IN

DEVELOPMENT ON IN 1986 BY MAX OF A CURRENT AND NOT NEEDS…. HEALTHY
A HUMAN SCALE NEEF SOCIETY OBJECTS…HUMAN AND
 OVERFLOWED BY NEEDS ARE PARTICIPATORY
CONSUMERISM. FINITE…. THE GOAL DEVELOPMENT…
IS TO COVER BASIC GROWTH IN
HUMAN NEEDS, PEOPLE…
PREDOMINATING DEVELOPMENT
THE BEING AND AND ECONOMIC
THE PEOPLE. GROWTH

What are the theories or models applied by the most developed countries?

A: The theory or models applied have been, first of all, the theory of modernization;

the observations presented in this theory mark a large part of the historical

development in northern countries, including the United States and Russia.

The theory of globalization has also been and is used by the most developed

countries since the interest in development today is focused on technology and

communication, and this theory promotes the integration and contact of cultural

practices.

Why, although others have tried to follow them, are the results not uniform?

A: Because the geographical, political, cultural and other conditions of the

countries are not the same. It must be taken into account that each country is

unique and, even when there are similarities, theories or models cannot be

developed in the same way.

This is why, in many cases, various theories fail while, in other cases, certain

models prosper. In addition, developed countries work to be world powers and

create structures so that underdeveloped countries continue to exist that depend

on them and thus control resources and have political, social and economic power.
How are countries' cultural values affected (positively or negatively) by trying
to adopt generalizing theories and models? And what would be the
minimums that an economic development model for Colombia should have?

A: When countries try to adopt models established in others, they can lose cultural

identity since the processes of change create their history, their system and their

traditions.

Each country must analyze its history, its geopolitical framework and society to

think about what model it could adopt since it is not just having the idea of

implementing and putting into practice a theory, the fact of not proposing the

appropriate one can stagnate a country in its economy and development.

*The minimum of an economic development model for Colombia should be

focused on production, support for agriculture and taking advantage of the

geography with its climatic diversity, in this way achieving sustainable and

profitable internal economies with the objective of achieving a country producer

focused on export. Promote participation in democracy with the purpose of

changing the country's political system.

What are the characteristics that an Economic Development model should

have for the contemporary Colombian reality?

The contemporary state in the world continues to be an intervener in economic and

social aspects of modern countries today, an intervention that is implemented in

the conception of a regulatory state, which does not directly provide services to

citizens, but rather allows the private sector does it on its own, change of regulation

and rigorous control of business activity, a model that is nothing other than the

result of experience that shows a poor performance of the business state being

indifferent to investment efficiency or vulnerability of minorities unable to compete

in a larger market. In our political constitution it protects freedom within the limits of

the common good, guaranteeing the development model, therefore the state

should stimulate the progress of organizations and therefore the basis of

development, it is necessary to create motivation in investments to modernize ,

expand and recover the loss of competitiveness of small companies, generating

certainty for the market, technology, knowledge, good salaries and quality

employment, which is why private investment in environmental management and

social responsibility among others is important, in order to move towards

overcoming poverty

The development model appropriate for the country's reality must be composed of

investment by the private sector in the mining and energy sector, maintaining and

capturing new strategic alliances to guarantee confidence and stability for

investors. Intrinsically generate sustainable and profitable business models in

companies with investment in social responsibility.

Dependency theory:

The negative implications that we consider of this theory given that its direction

presents that the world economy has an unequal and counterproductive design for

developing countries, which would not contribute to the economic growth that the
country would need, but to achieve the development of the Leverage is necessary

to restore the economy.

Justification:

For the proponents of this theory, following the model of developed countries does

not make sense, since their development occurred under certain historical

conditions that are impossible to recreate in southern countries (Colombia). In

addition, this model reveals that this condition of poverty favors developed

countries, and therefore, that it is not in their interest to change the global

economic structure. Faced with this situation, the Dependency Theory urges

developing countries to implement policies aimed at internally generating the

products on which they depend, and apply a more selective criterion when

embarking on commercial transactions with developed countries, applying

protection measures. such as tariffs and other taxes. In Colombia, this change in

trade policy occurred during the administration of former President Gaviria, and is

known as economic opening.

Modernization theory:

Justification: It could apply to our country, during the first half of the 20th century

Colombia experienced profound changes, certain economic transformations that

occurred in Colombia during this time, the product of its insertion into the world

economy, produced the modernization of Colombian society, where Railways and

roads were built, industry flourished, cities began to grow and a new social actor

appeared: the worker. Everything made it seem that during the 20th century

Colombia began to develop progressively compared to the 19th century. Although

this era was one of economic prosperity, the partisan hatreds characteristic of the

19th century did not cease and the governments of the time did not know how to

address the social and economic problems of the poorest population. (Blog)

Globalization theory:

Justification: It is convenient in our country due to a greater offer of products,

goods and services that improve the quality of life, technological development, and

providing greater coverage in telecommunications; the opportunity to open markets

in other countries, entry of foreign investment, academic and labor mobility that

favor participation in the knowledge society. Additionally, the state begins a

process of decentralization of power and the modernization of administrative and

contracting processes.

World Systems Theory:

Justification: The recognition granted of a highly globalized world economy

depends on correct decisions regarding structural change in its production and the

ability to adapt to dynamics. That is why many Latin American economies are

frustrated in terms of internationalization and their matters are not really efficient,

this happens in the Colombian economy. In recent years, attention has been

focused on the possibilities that result in greater market access to foreign direct

investment flows.

Origin: In the early years of the nineties, for Colombia the commitment to achieve

the appropriate combination between the signals emitted by the international

market, the production structure and the expectations made with respect to the
liberalizing proposals and insertion to the markets that accompany the economy:

the lack of savings, low levels of productivity, the heterogeneity of the productive

structure, the strengthening of its human capital among others.

Human Scale Development Theory

Justification: in Colombia economic events are studied in a very traditional way

and is based on simple statistical figures, when the country's situation says the

opposite. We should rather study the needs of people that have not yet been met,

such as security, for example. In this case, to be able to satisfy this need would be

to buy weapons to maintain security, but at the same time this becomes a driver of

violence. On the other hand, development on a human scale is not completely

separated from macroeconomic variables, let's look at one of them,

unemployment, we all know that currently in Colombia there are high rates of

unemployment, this is a very important element, since if a person is not employed,

she will not be able to satisfy many of her basic needs and will fall into an

emotional crisis by not finding a way to respond to her obligations, that is, there is

no increase in the quality of life of Colombians and therefore there is no

development.

In accordance with the previous literal, propose actions that allow improving
the state of the main indicators of economic development in Latin America
and Colombia.

To improve the state of the main economic indicators in Colombia and Latin

America, the educational system must be strengthened, only by this means,

education can generate progress in our nation, being true, the economy and

development in Latin America has been based exclusively in the extractive sector,

which is the most primary (mining and hydrocarbons), leaving aside agriculture,

where the entire human and technological issue has been neglected and the

industry has not been left behind, we have concentrated our exports on products

primary and we have not yet reached the take-off stage, we do not value it, based

on the very basics of not innovating in goods and services, therefore a structural

change of the productive sectors is necessary and we begin to develop activities

that generate added value such as Also give more importance to the “knowledge

economy”, it is also necessary to reform justice, health, education, pensions, etc.

Not to mention that the Neoliberal policy that has been applied has generated

inequality, therefore, it is necessary to strengthen and/or modify the development

plans for each nation so that they are real, restructure the free trade agreements

which allow us have put them at a disadvantage with other countries.

 Bibliographic references

Giller, D. (2014). Dependency theory? Origins and discussions around a

problematic category. CCC Magazine, (21).

Ortíz, A. (2013). José Antonio Ocampo: ECLAC, dependency theory and a look at
what is Colombian. Goliards. Student Magazine of Historical Research, (17).

Toscano, O. M. (2006). Theories of economic development: some postulates and

teachings. Notes from CENES, 49-74.

History of globalization. Taken from

[Link]

Reyes, G. AND. (2001 (4)). Main Theories on Economic and Social development.
Madrid, Spain: Nómadas Critical Magazine of Social and Legal Sciences.

Elizalde, A. (2000, September). Human scale development: concepts and

experiences. Interações, 1(1), 51-62. Anonymous. (September 24, 2014).
Colombia In The First Half Of The "20th" Century. [Blog message]. Retrieved from:
[Link]
[Link] Williamson, J. g. (2012). World economic development in historical
perspective: Five centuries of industrial revolutions, globalization and inequality
(Trans. S. Apiaries). Zaragoza, Spain: Presses of the University of Zaragoza.