The basic problem of the Indian economy is the problem of economic development, i.e., providing the minimum means of subsistence to its fast increasing population. Those who have been susceptible to the view that the problem may always evade a solution may take solace from the fact that another neighboring country, viz., China, has done it and has accomplished the task tolerably well. It has shown that the underdeveloped world is not doomed for ever to live in destination. Economic development is an accomplished fact; the need is to create the environment in which development becomes a self-generating process. In this research paper, we will ascertain the features of under-development, trace the forces that cause underdevelopment and identify the factors that promote development.
Table of Contents
- I - Concept of Underdevelopment
- II - Features of Underdevelopment
- (i) Low per capita real income
- (ii) Population
- (iii) Unemployment, Underemployment, disguised unemployment and low productivity
- (iv) Poverty
Objectives and Key Themes
This research paper aims to define underdevelopment, explore the factors contributing to it, and identify elements that foster economic development, using India and China as contrasting examples. The paper uses the case of India to illustrate the challenges of underdevelopment in a specific context.
- Defining Underdevelopment: Exploring the concept of underdevelopment as a relative term and its various characteristics.
- Features of Underdeveloped Economies: Analyzing key features such as low per capita income, high population growth, unemployment, and widespread poverty.
- Causes of Underdevelopment: Identifying factors like low productivity, lack of investment, and population pressures that contribute to underdevelopment.
- Development Factors: Examining the role of resource utilization, technological advancement, and education in promoting economic growth.
- Comparative Analysis: Using the experiences of India and China to highlight the possibilities and challenges of economic development.
Chapter Summaries
I - Concept of Underdevelopment: This chapter establishes the concept of underdevelopment as a relative term, contrasting "developed" and "underdeveloped" economies based on aggregate output, consumption standards, and savings. It offers a definition of an underdeveloped economy, highlighting characteristics like high population growth, underutilized resources, slow capital formation, and low living standards. The definition acknowledges variations among underdeveloped nations, stressing its function as a general guideline rather than a complete description.
II - Features of Underdevelopment: This chapter delves into the specific characteristics of underdeveloped economies. It examines low per capita real income as a primary indicator, referencing data comparing low, middle, and high-income countries. The chapter then addresses rapid population growth in underdeveloped nations, discussing the consequences of this growth, including increased poverty and unemployment, particularly migration from rural to urban areas. A significant portion explores various forms of unemployment (open, underemployment, disguised), their causes (population pressure, low economic activity, etc.), and their impact on productivity and overall poverty. Finally, the pervasiveness of poverty in underdeveloped countries is highlighted, emphasizing the stark reality of low income levels and the implications for a substantial portion of the global population.
Keywords
Underdevelopment, Poverty, Low per capita real income, Population growth, Unemployment, Underemployment, Disguised unemployment, Economic development, Capital formation, Resource utilization, India, China.
Frequently Asked Questions: A Comprehensive Language Preview of Underdevelopment
What is the overall topic of this research preview?
This preview presents a comprehensive overview of underdevelopment, exploring its definition, characteristics, causes, and potential pathways to economic development. It uses India and China as comparative case studies.
What are the main sections covered in the preview?
The preview includes a table of contents, a statement of objectives and key themes, chapter summaries, and a list of keywords. The main topics discussed are the concept of underdevelopment, the features of underdeveloped economies (low income, population, unemployment, and poverty), causes of underdevelopment, factors that foster development, and a comparative analysis of India and China.
How is underdevelopment defined in this preview?
Underdevelopment is defined as a relative term, contrasting "developed" and "underdeveloped" economies based on factors such as aggregate output, consumption standards, and savings. It's characterized by high population growth, underutilized resources, slow capital formation, and low living standards. The preview emphasizes that this definition is a general guideline and acknowledges variations among underdeveloped nations.
What are the key features of underdeveloped economies discussed?
The key features explored include low per capita real income, rapid population growth (and its consequences like increased poverty and unemployment), various forms of unemployment (open, underemployment, disguised unemployment), and widespread poverty. The impact of these factors on productivity is also analyzed.
What are some of the causes of underdevelopment identified in the preview?
The preview identifies factors such as low productivity, lack of investment, and population pressures as contributing to underdevelopment.
What factors are considered important for economic development?
The preview highlights the role of resource utilization, technological advancement, and education in promoting economic growth.
How are India and China used in this preview?
India and China serve as contrasting examples to illustrate the possibilities and challenges of economic development in the context of underdevelopment. India is used as a specific case study to illustrate challenges.
What are the key terms associated with this topic?
Key terms include underdevelopment, poverty, low per capita real income, population growth, unemployment, underemployment, disguised unemployment, economic development, capital formation, resource utilization, India, and China.
What is covered in Chapter I: Concept of Underdevelopment?
Chapter I establishes the concept of underdevelopment as a relative term, contrasting developed and underdeveloped economies. It provides a definition of underdeveloped economies, highlighting characteristics like high population growth, underutilized resources, slow capital formation, and low living standards. The chapter acknowledges the variations among underdeveloped nations.
What is covered in Chapter II: Features of Underdevelopment?
Chapter II delves into the specific characteristics of underdeveloped economies, examining low per capita real income, rapid population growth, and various forms of unemployment (open, underemployment, disguised). It also highlights the pervasive issue of poverty in these economies and the impact of these features on productivity.
- Quote paper
- Dr. Jose Prabhu Joseph John (Author), 2020, A Study and Analysis of Concepts and Features of Underdevelopment Economics at 19th Century, Munich, GRIN Verlag, https://www.grin.com/document/962509
