HUMANOMICS: A MODEL FOR THIRD WORLD DEVELOPMENT

Abstract

I. Introduction For over forty years, a model for Third World development has gained widespread acceptance. Three key premises underpin the traditional development model: (1) the identification of “development” with the maximization of the rate of national economic growth; (2) the quest to achieve Western living standards and levels of industrialization which require the transfer of labor from the agricultural to the industrial sector as well as increased consumerism; and (3) the integration into the interdependence of Third World nations in the global economy and the global marketplace. Increasing the demand for a Third World nation's exports (in other words, export‐led growth) is viewed as leading to the maximization of a nation's Gross National Product (GNP).

Citation

Solomon, L.D. (1992), "HUMANOMICS: A MODEL FOR THIRD WORLD DEVELOPMENT", Humanomics, Vol. 8 No. 1, pp. 3-70. https://doi.org/10.1108/eb006125