The academic, political, and economic nature of development means it tends to be policy oriented, problem-driven, and therefore effective only in terms of and in relation to a particular, pre-existing social theory. The actual development projects thus initiated, by both governments and NGOs, are directed in accordance with this development theory. Development theory itself, however, assumes a framework already set in place by government and political culture in order to implement it.
Model agencies collude to fix rates Regulators find leading model agencies guilty of price fixing. Economics - schools of thought Classical School The Classical school, which is regarded as the first school of economic thought, is associated with the 18th Century Scottish economist Adam Smith, and those British economists that followed, such as Robert Malthus and David Ricardo.
The main idea of the Classical school was that markets work best when they are left alone, and that there is nothing but the smallest role for government. The approach is firmly one of laissez-faire and a strong belief in the efficiency of free markets to generate economic development.
In terms of explaining value, the focus of classical thinking was that it was determined mainly by scarcity and costs of production. In terms of the macro-economy, the Classical economists assumed that the economy would always return to the full-employment level of real output through an automatic self-adjustment mechanism.
It is widely recognised that the Classical period lasted until Neo-classical The neo-classical school of economic thought is a wide ranging school of ideas from which modern economic theory evolved. The method is clearly scientificwith assumptions, and hypothesis and attempts to derive general rules or principles about the behaviour of firms and consumers.
For example, neo-classical economics assumes that economic agents are rational in their behaviour, and that consumers look to maximise utility and firms look to maximise profits.
The contrasting objectives of maximising utility and profits forms the basis of demand and supply theory. Another important contribution of neo-classical economics was a focus on marginal values, such as marginal cost and marginal utility.
New classical New classical macro-economics dates from the s, and is an attempt to explain macro-economic problems and issues using micro-economic concepts like rational behaviour, and rational expectations.
New classical economics is associated with the work of Chicago economist, Robert Lucas. Keynesian economics Keynesian economists broadly follow the main macro-economic ideas of British economist John Maynard Keynes.
Keynes is widely regarded as the most important economist of the 20th Century, despite falling out of favour during the s and s following the rise of new classical economics. In essence, Keynesian economists are skeptical that, if left alone, free markets will inevitably move towards a full employment equilibrium.
The Keynesian approach is interventionist, coming from a belief that the self interest which governs micro-economic behaviour does not always lead to long run macro-economic development or short run macro-economic stability. Keynesian economics is essentially a theory of aggregate demand, and how best best to manipulate it through macro-economic policy.The Dependency School of thought had some influence and bearing upon the rise of liberation movements in Central America during the s and s, although the sheer brutality of the dictatorships and militaries which ruled was also a major factor in their emergence.
The psychological schools are the great classical theories of psychology. Each has been highly influential; however, most psychologists hold eclectic viewpoints that combine aspects of each school.
Most influential ones [ edit ]. Twenty years ago, Herb Peyton made an offer the state couldn't refuse. He sold an 11,acre strip of barrier island in Ponte Vedra Beach to the public for $50 million, and one of northeast. Psychology, the study of the mind, has hundreds of theories and sub-theories, but the six main schools of thought are often the foundation for those new to the world of psychology.
Functionalism Psychological functionalism attempts to describe thoughts and what they do without asking how they do it. Wundt’s ideas formed the basis of the first school of thought (or perspective) in psychology, known as structuralism. In reality, though, it was one of Wundt’s students, Edward B.
Tichener, who formally established this psychological school of thought.
Developmental School Of Thought. explain the human mind and behavior began. The first school of thought, structuralism, was advocated by the founder of the first psychology lab, Wilhelm Wundt. Almost immediately, other theories began to emerge and vie for dominance in psychology.