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Theory and India
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This chapter examines theories of economic development and growth and asks how these can help in our understanding of the dynamics of changing individual circumstances in Palanpur. The core ideas of the Palanpur study, namely of non-farm diversification, evolving mobility and inequality, the responsiveness of institutions to change, sluggish progress in human development, and the critical role of entrepreneurship and initiative, are explored through the lens of conventional theories of development. Deficiencies in our conceptual understanding are identified (ways forward are suggested in Chapter 13). The chapter notes, however, that the rapidly growing fields of institutional and behavioural economics are particularly relevant to the Palanpur study and may come to offer important insights.
Title: Theory and India
Description:
This chapter examines theories of economic development and growth and asks how these can help in our understanding of the dynamics of changing individual circumstances in Palanpur.
The core ideas of the Palanpur study, namely of non-farm diversification, evolving mobility and inequality, the responsiveness of institutions to change, sluggish progress in human development, and the critical role of entrepreneurship and initiative, are explored through the lens of conventional theories of development.
Deficiencies in our conceptual understanding are identified (ways forward are suggested in Chapter 13).
The chapter notes, however, that the rapidly growing fields of institutional and behavioural economics are particularly relevant to the Palanpur study and may come to offer important insights.
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