ECONOMICS GROWTH | THEORIES OF DEVELOPMENT AND UNDERDEVELOPMENT



No  1 
Differentiating growth from development is not an easy task. Attempt four  functional  definitions each from economics  protagonists
Growth: It is  the  steady process by which  the productive  capacity to  the economy is  increased  over to bring about  rising levels of national income  Todaro, (1977)  in  Anyanwu (p. 405 -206).
Economics growth  thus refers to the volume of output in the current year vis-à-vis the volume of output in a  chosen previous year, it overlooks the distribution of and hence the well-being of the citizens in the economy.       

While economic development is generally  defined to include improvements in materials welfare especially for persons with lowest  incomes,  the  eradication  and  early  death, changes in the composition of inputs  and outputs that general include  shifts in the underlying structure of production away from  agricultural towards industrial activities  Kindleberger  and Herriek  1977)
Development:  It is a multidimentional process involving the provision of basic needs, 
Acceleration of economic growth, reduction of inequality and unemployment, eradication of absolute   poverty as  well as change in attitudes, institutions and structures in the economy Todaro (1977) in Anyanwu (P 405-405).
Development as the process whereby the level of national production (that is national income) or per capita  income increases over a  period of time.

No 2
Theories of development and underdevelopment were variously perceived complement these views with stage theorists postulation.
Theses theories of development and under development are variously perceived in this form:
a.      climate  theory
b.      Sociological theory
c.      Colonial dependency  theory
d.      Puritanical theory
e.      Predestiuation  theory
            To complement development  and under development theories with  stage theorists postulations. these stages theorists  are not different  from theories of development and  under development. One of the theorists W.W. ROSTW outline five  stages of development
1.      Traditional  stage
2.      Pre-condition for take –off
3.      Take-off
4.      Drive to maturity
5.      Maturity  stage  
while Karl Marx as a theorist postulated five stages which include  the following:
a.      Communal stage
b.      Slave owing stage
c.      Feudal stage
d.      Capitalistic stage
e.      Socialistic  stage
That  is to say development and underdevelopment theories with stages of development made by theses  theorists  are not different only that they  explain them the way  they perceived them it  should better done   for  development to be rapidly take place and why underdevelopment in  some  countries started and what cause it and ways to  development.
No  3
Peculiarities of  second national development plan serve as a prelude to  3rd NDP (a) What  factors  are  responsible for singling  2nd NDP as unique. (b) How  does  3rd NDP complement it?
a.      The factors responsible for singling  2nd NDP as unique are follows
i.                    Because of the increment on amount  of money  voted  on  2nd  NDP made it unique
ii.                 United strong  and  reliance society
iii.               For  great dynamic society
other  peculiarities of  2nd  NDP singling its uniqueness  are the  achievements which include
1.      Reconstruction of projects 
2.      Rehabilitation and
3.      Reconciliation programme was introduced  such  as NYSC

NO  8
What  are the causes  of extreme poverty and what politics  have most effective to  improve the poorest of  the poor?
Before  then we need to understand the  term extreme poverty. Any way is a very fearing  word because  when a country or someone is under extreme poverty is  even better for such person to die off because he  can provide what he/ she  will eat neither  for the family  member  and if it is a country here citizens will die for not  have access to social amenities or basic  things life needed .
Extreme poverty: Is a epidemic, cankerworm, suffering, agonizing  which come as a result of lack of water, food, electricity,  health care, good access  road and other lack  of basic social amenities  trigger off  a country..
 Extreme poverty: Is the work of mankind and  only mankind can destroy it: Joseph Wresinski
Causer of extreme poverty: These are include:
a.       Political regime and dictatorship : Here,  politicians  were highly corrupt and had economic programmes which did not benefit or  create growth, development, employment  and  education  but in stead made the rich richer and poor poorer in  the society and when economic wealth of any  nation  was in  the hands of a dictatorship rather than being  dispersed out to the people  
b.      Physical geography and disease:  There are great  widespread  famines  and lack of healthcare in poor developing  counties were  to blame.  These factors such  as the lack of crops in poorer countries, which  made it impossible to produce food, in effect  leading  to starvation and an increase of famines
c.       Wester counties and the global  order: Some of western countries include united state and united states are to be blame for the plight of the poor in  destitute counties. The colonialisation period example Nigeria and Zimbabwe where  colonialism had exploited the  countries and lead  to tribal divisions, religions conflict and civil war  under the colonial period, valuable resources such as diamonds and oil were taken from these counties and given to western countries which have arguably caused long-term poverty in sub-saharan Africa.
The  current global order is to be blame with certain dominant global powers and international organizations  such  as  the world trade organization  and the  international monetary fund not doing  enough to help the plight of the poor   in impoverished countries.   
Lack of good qualitative education: a  national that  plays with  educational sector is doom to suffer any kind of disease which is extreme poverty that has no cure  even with kind  of medicine. So a  country with no regard on education of her citizens  faced with this challenge extreme poverty which paralyzed all other sectors.


No  9
Planning Under Military Dispensation In Capitalist  Market   Economy  Is A Farce Postulate Ideal Planning  Situation In And Inductive Economics
Planning is all about making decisions and soling  problems planning  might also include specifying  milestones or deliverables to be produced, and  timeline for achieving  the objectives and  milestones
Planning  are only good intensions  unless they immediately degenerate into hard work,. It is upon this bases that we wish to recommend ideal planning situation in directive and inductive economy
Economic planning refers to any directing  planning of economic activity outside the mechanisms  of  the market  in this case, planning is an economic   mechanism for resource  allocation  and decision making held in antrast with the market mechanism where planning  refers to the direct allocation of  resource
Most  economics are  mixed economics, incorporating  elements  of market and planning for distribution  of inputs and outputs
In directive and inductive economics a lot of  factors combine  to form an  ideal planning situation. They are as fellows:
A  ideal planning situation must  have the following features under  a directive economy
  i.            There must be systematic knowledge of available resources  this involves a comprehensive survey of existing  and  potential resources of the country.
ii.            There  must be a central planning  authority  (planning commission in Nigeria)  to prepare and  definite plan
iii.            Development  planning must have definite objectives
iv.            On the basis of the  objective of a plan,  the planning authority will set targets for the different sectors of the economy.
v.            Planning authority will allocate  resources among the various sectors of the economy  to fulfill the targets
vi.            A definite  time will  be fixed  to fulfill the targets
In directive and inductive economics, planning can take various forms and  styles we can have transformational   planning  which is type of  planning  that   embraces   all sphezes of  economy.  It  is centralized planning  equipped with harsh powers of command, in transformational planning resources are allocated by a centralized administration not  by the  mechanism of price. In transformational planning, the use of capital, land and labour  is untimely brought within the supervision  of such  administration . decision on  the outputs are also taken  by  administration it is compulsive and directive and hence  regimentation is the consequence. In  this  type of planning state acts as a collective capitalists. It is contrary to democracy.   
In deed, development planning in a directive economy is ideal. Development planning involves (i) assessment of resources which can be assembled for the total  planning  efforts.  (ii) the  distribution of resources  aiming  various sectors of the economy and   (iii)  external direction or regulation  of the nations  economy  by a governmental  agency in order to increase the pace  of development.
The following  are  the trod objector of development planning  which makes it suitable for directive and  in due five economies first it help to achieve full and stable  employment. Sadly, it leads to  letter utilization of productive resources.  In contrast, resources are not properly utilized in free market  economy.  Thirdly, it helps to achieve price stability. Here government  organs are used to  stabilize the  price  amist all odds
In induction, the successful implementation of plan for  economic growth and development  in  a  directive economy depends  largely  on the conditions and circumstances preventing  in the country.  In this case,  the  recommended planning  situations  includes (a)  reliable and  efficient  government.  Ran  means strong and  efficient government that can give  directives to  move the economy.  (b)  credible planning agency (c)  purposeful administration (d)  adequate find  (e)  functional data base (f) balanced  economy
In  the economy there as seven steps to successful project planning which are
  i.            Every project needs a road map with clearly defined goals that should not change  after the first phase of the project has been completed.
ii.            Develop a list of deliverables  and make sure all project team  members are familiar with the list
iii.            A document that clearly outlines  all project  milestones and activities required to complete the project should  be created and maintained
iv.            Budget for each project should be   created
v.            Project  manager should choose  team members  who can partner together 
vi.            Progress  report guidelines should be created and made monthly,  weekly  or daily as the case may  be
vii.            Identify risks involved in project execution and  discuss alternatives with  chief executives
These step should get you started with delivering your project on time within your budget, under directive and inductive economy .  
         


No 10 
The four points agenda of  the incumbent governor of enugu state stem from the global agenda of MDGs  (2020) . explain how  these agenda could  facilitate  rthe mateiralsiation of the  vision  2020 
We then we need  to outline   four points agenda of governor Enugu State which includes 
a.      Physical infrastructure development
b.      Economic  expansion and employment
c.      rural development
d.      service delivery
while the global agenda of MDGs  2020  are include 
1.      Eradicating extreme poverty  and  hunger
2.      Achieving  universal primary education
3.      Promoting gender equality  and empower
4.      Reducing child mortality
5.      Improving material healthcare 
6.      Combating the hiv/aids and  malaria scourge 
7.      Ensuring  environmental sustainability  
8.      Developing a global partnership for development.
The agenda of incumbent Governor Enugu can help a lot to facilitate the materialization of the vision   2020  because it anchor on  infrastructural development which a lot of projects such as road construction, building of different  classrooms  in some schools and electricity as well 
However, these agenda of Governor enugu state can help vision  2020   to materilaise on the area of economic expansion and empower this has to do by empowering people  of Enugu which include men and women who will take Enugu State tomorrow to a greater  light  after the limelight of  Surlvan chime of them there are so many  projects from four points  agenda that will make   vision 2020  to materialized.

No 11
Economic planners in nigiera are  applauded  for sound plan formulation but  castigated for  atysonal failure in plan implementation  discuss
Economic  panning refers to any directing or planning of economic  activity   outside the mechanisms of the market. Planning is  an economic mechanism for resource allocation  and  decision –making held in contrast with market mechanism where   panning  refers to direct allocation of  resources.
Nigeria has mixed  economics,  incorporating  elements of markets   and planning for distribution of  inputs and outputs. In  effect the  level of canalization  of  decision  making  in the planning  process  ultimately depend on the  type of planning mechanism employed.
Economic  planning can apply to production, investments, distribution or all three of  these functions over the  years nigiera are applauded for sound plan formulation Nigeria economy has been piloted with chams of  development  planning hat span through  years. But the  handicap that  has  always bedeviled this plans is poor implementation  mechanisms. 
Theoretically  development plans of  any sort involve decorate efforts  on the part of government   to speed up the process of social and economic  development of a country in most mixed  earomes like  Nigeria economic plans are  useful  for provision of policy  framework within   which the economy and other sectors operate. Today development plans has always  served  as a course  of actions  that should be  followed to amoe at  ensage economic goals  of the  society
The essence  of economic  planning   by government therefore is  that it could make a conscious  choice   regarding the  rate  and   direction of growth . it is  therefore   reasonable  to say  that  through  a national  comprehensive plan,  it will be  possible to make  rational  decisions to achieve  deliberate consitent and well – balanced   action towards  socio – economic  development and good  governance.
A body known as national economics  counc was set up in  1955  to coordinate  the nations growth in line with  the  recommendations  of the world bank  mission to Nigeria this  later led to preparation of national development  plans with which Nigeria is  been  piloted.
Since  1960  therefore, Nigeria has  formulated and launched development plans  which  has made it possible for government   to articulate policies in the following  areas  equitable   distribution of income,   increase in employment opportunities,  improvement in social services and  efficient allocation of  available  resources to eliminate waste
Preparing and  implementing  development plan  thus  becomes  one  of  the way by which successive government   no Nigeria before and  after  the  country’s independence  have been  trying to better the socio- economics  conditions of  Nigerian  citizen
This is because policies contained in  such development plans touch on the various aspects of the society, which include the political, economic,  educational, social , and agricultural  sectors.
Good  as this economic plans may sound in 1986 , there was a gradual  movement towards a cessation of  national  development plans and subsequent failures in the implementation of such  plans in  Nigeria it is important to note  that this has made the business  of governance, haphazard in the country. Plans were succeeded by  conter plans and each and in  abysmal failures arising from numerous  factors.
It is important to note that rela  journey  towards  neglecting  the tradition  of development planning  and skillful pursuit  of  the  objectives of development plans  in Nigeria started with the  Babngida  administration.  In  response to the problems encounter  during the  4th  national development plan  period, the Babangida  administration suspended  in  October  1998 the idea of a five  year  development  plan which had hitherto almost  became a well esladished  traditions
Substantial facts in our economic  history  show cases evidences that military intervention in  1966  and its   subsequent prolonged rule in Nigeria  become the genesis of  funcating  the  process of adhering to nation development  planning as a strategy  for  economic  and social  development.  What the  nation  has inherited in the absence  of  well-articulated development plan are   budget frauds, road contract scandals,  oil  scams and unchallenged or unchecked high level  of financial corruption  at all levels of  government in Nigeria.
It is however imperative to note  that since  the  recommencement of democratic government on may  29th,  1999,  the  administration   of  president   Olusegun Obasanjo has begun a  series of bold  economic and  political  reforms  to put the country back on a sound economic and  political  footing.
 Today  we can easily recount the problem associated with poor  implementation  of  articulated plans  in  Nigeria to include:
1.          Political  instability which often lead  to change in  plans
2.          Inadequate capital which makes plan  difficult to achieve
3.          Misplacement of priorities  which mosttime diverts investments  to projects that  yield no economic  outputs to the people
4.          Insufficient statistical data which  places most plans on wrong projections
5.          Inadequateskilled personel which  makes plan implementation difficult 
6.          Rapid population  growth which  tend  to destabilize planning
7.          Over-reliance on foreign aid leads  to abysmal failures
8.          Corruption and  nepotism has affected our planning by buseing  decisions on selfish and  parodual considerations.
9.          Burden of economic plans 
The  predicaments are manifestations of neglecting  practice of development planning in Nigeria which  denies Nigeria the  required blue print for development . what this means is that the level  of  development in Nigeria today does not match the level of resources  available . this is the result  of high level of corruption  which lack of  adequate resource utilization for development  has made possible.
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