Development and Underdevelopment in the History of Economic Thought

Underdevelopment theory vs experience in underdevelopment

Mejía Cesar, El Jicaro Corp

As we seek various economic theories , some based on social observation others based on statistical models , we as I believe encounter an un going problem ; underdevelopment theory has to be lived and experienced before we quantify its human behavior . An introduction of thought kindly began by : Cesar Mejía a capitalist at heart . Bachelor in Economics specialized in international Economics from F.I.U Certificate in Latin American Studies . The evolution of our economic ideas have come to existence and understanding due to the cartesian methods of cause and effect and it’s predecessors. For each time it’s idea was born and from each idea its time was born . We see this in the development of economic thought arising from revolutions or vice versa , and another example is from market behaviors shifting economies or viceversa . We also see this cause and effect in Alexander Gerschenkron’s relative economic backwardness In which he states that the more a country is underdeveloped in its arrival of rapid expansion , the faster the underdeveloped country will grow. I believe a large factor in an underdeveloped country achieving this mass growth is the large demand of currency by a new generation entering labor force , and the correct usage of monetary policy by governments to supply that demand for currency. Institutions being dependent on the largest institution which is the government will tend to work in comunión to achieve progress , and if this progress does not come , than the comunión breaks and we start seeing the seperatism in the population, taking us again to another effect , another policy change , revolution , or economic shift . In reality as population holds its government liable for its development , so does peripheral economies hold their areas core economies liable for their development . If not , than why was the euro created , was it not to create unity, increase trade and bring progress to all countries including the semi-


Keywords: Underdevelopment Study

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