File:Becoming a rich nation.pdf

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Becoming_a_rich_nation.pdf (685 × 472 pixels, file size: 53 KB, MIME type: application/pdf)

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Paths for development from less- to more-developed nation
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Summary

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Description
English: The usual model of economic development is indicated as Path 1, which begins with agriculture for essential food. Once this seems assured it then moves towards non-food or luxury-food production. The latter two categories provide

94 Small Farmers Secure Food

raw material for some agro-industrial facilities that soak up those displaced from agriculture as it becomes more and more technology driven. Agro-industries spawn other secondary industries that provide life-style products. And as life-styles become more sophisticated, so demand for services increases and a tertiary industry develops for new products ranging from banking to tourism. With good governance, a redistribution tax system allows a degree of social equity, which is usually expressed as a social safety net so that all in the society can expect at least a basic level of life. It is a model that has worked – indeed it is more an interpretation of rich country development than a theoretical model for future development. That in itself should suggest that it might not be universally applicable.
Date
Source Own work
Author Prof. Lindsay Falvey

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current04:32, 10 February 2022Thumbnail for version as of 04:32, 10 February 2022685 × 472 (53 KB)Prof. Lindsay Falvey (talk | contribs)Uploaded own work with UploadWizard

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