Some aspects of economic development /

The Aggrey-Fraser-Guggisberg memorial lectures, 1968.

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These Aggrey-Fraser-Guggisberg Memorial Lectures, at the University of Ghana, Legon, in 1968, reviewed some of the principal factors which have determined economic development since 1945, not specifically in Ghana, but more generally in the underdeveloped world. (1) " Two decades of growth " reviews growth since 1945, particularly the extent of the " gap " between rich and poor nations in terms of infrastructure, world trade, and industrialization. (2) " The economics of education " examines the current trend of measurement of economic growth partly in terms of scientific progress associated with education, as opposed to previously examining only the proportion of growth due to the various factors of production. (3) " Development planning " discusses the post war trend in Development Plans among underdeveloped countries, and their subsequent failure as models; their contribution has mainly been to create conditions favourable for growth. (4) "Socialism in Africa ", discussed African socialism in the wider context of " socialism" as an idea, and modern trends in socialist thought especially in Western Europe, and distinguishes ideas pertaining to (a) degree of equality in income distribution; (b) ownership of property and (c) powers of the state. (5) " The process of transformation " examines the transition from poor, subsistence economy to a rapidly expanding market economy, involving profound cultural changes. Three African problems which distinguish them from the original European model of modernization, are isolated: (a) the struggle for savings; (b) the creation of nation-consciousness, and (c) efficient government. M. B.

lje 07/05/2018

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