Write a critical note on the various debates on model of development planning
Answers
In this model, the people from different cultures were included traditional as well as contemporary for the purpose of economic growth.
Welfare model of Development:
This promotes the socio-economic welfare and common benefits of the society.
Socialist Model of Development:
In this numerous socialist philosopher present different views about improvement in different areas.
Democratic-Socialist Model of Development:
This is for safeguarding socialist goals by using independent funds.
The model advises that the economy’s rate of growth be influenced by :
1. the level of saving
2. the efficiency of investment i.e. the capital output ratio
The Harrod-Domar model was advanced to support AND analyse the employment rotation. Though, it was later improved to ‘explain’ financial development. It established that:
· Financial development rest on on the quantity of workforce and investment.
· As LDCs frequently have an plentiful source of workforce it is a absence of physical capital that grips back financial growth and development.
· More physical capital produces financial growing.
· Take-home investment leads to extra capital build-up, which makes greater output and revenue.
· Upper revenue permits advanced levels of saving.
