Theory 1
What does Weber say about the Spirit of Capitalism?
Protestant Germans in the 20th century, due to the cultural norms brought by the idea working and making money was the greatest good a human could do for God
What separates the U.S from Latin America, according to Acemoglu and Robinson?
The U.S. maintainted an early establishment of inclusive economic and political institutions; Latin America has struggled to develop due to historical extractive institutions left by colonial powers
What is the State, according to Weber?
How does Rostow explain how traditional societies progress to modern societies?
Modern societies come about primarily through the adoption of science and scientific thought, most significantly in the educational and infrastructure spheres
What does Fukuyama argue about the role of "the state" in economic development?
To balance scope and strength; by stabilizing and mastering both scope and strength, a state is granted the ability to participate in effective state-building
What is Participation?
One vote per person; the upholding of minority and individual rights
What does Carodo cite as the reason why Latin American societies do not become modern societies?
Western nations/actors/entrepreneurs enter Latin America and establish extractivist economies, taking the resources which could be used to domestically advance Latin America and placing it in the economies of the West
What is Contestation?
Majority eventually rules; the range of candidates/policies to vote for should not be barred; groups can lose and eventually give up power, and there are a variety of groups and alternative candidates
Why did South Korea succeed in late-industrialization, according to Amseden?
The Korean state directly manipulated and regulated the country's economy to ensured that foreign corporations and entrepreneurs were not able to establish control over the market in a way which would make Korea reliant on outside stimulation
What are the differences between good and bad institutions, according to Acemoglu and Robinson?
Good institutions promote growth and reward productivity; Bad institutions limit growth and promote the status quo