A Comparative Research On Basic Theories Of Development Economics

There are many disciplines such as history, sociology, economicsetc. to research the mankind development. In the scopes ofeconomics, there exist various theories of Development Economics atstudy the developmental problem of economy.This paper is divided into three parts, the first part, from chapter2 to 5, is to introduce the evolvement of Development Economics, modernWestern Development Economics, New Classical Economics and Economicsof Information Society respectively. On this foundation, the secondpart, from chapter 6 to 9, carries on a compared research among thevarious Development Economics in some important aspects. The thirdpart, only chapter 10 included, is to sum up the compared research, andthen puts forward a general model of mankind development and aneclectic hermeneutic frame on economy development.In chapter 6, the paper establishes a systematic multidimensioncoordinate model to evaluate the economics theories, through fourcriteria that are the speed rank of system evolvement, spaceextent, degree of variable fineness and organization degree of thetheories. Through positioning the theories in the multidimensionreference frame, we can recognise the properties, advantages anddisadvantages of the theories quickly.The most important innovation in the paper is to clarify the relativity between partial and general equilibrium analysis throughthe level model of general equilibrium analysis.The paper defines the relativity between partial and generalequilibrium analysis distinctly. Considering a system in one level ofspace extent, the whole analysis of the system is called generalequilibrium analysis, the analysis of the sub-system is calledpartial equilibrium analysis relative to the whole system; If thesystem is regarded as a sub-system of a larger system, the analysisof the system is called partial qeuilibrium analysis relative to thelarger system.The levels of general equilibrium analysis of various DevelopmentEconomics differ each other, which lead to different explanation onthe same problem. The level of New Classical Economics is higher thanthat of Neoclassical Economics. All the models in Development Economicsdoesn't endogenate the tradeoffs between economic development andecological enviroment, center and peripheral countries, government andmarket, equity and efficiency, exploitation and stimulation.Chapter 7 compares the understanding of some basic problems in themankind(economic) development, such as the object and means ofdevelopment, developmental phases and modes, definition and laggardroot of developing countries, the developmental driving mechanism.The paper thinks that communism is the ultimate developmentalgoal. Basis on the proposition that "freedom is the goal and means ofdevelopment" by Amart Ya Sen(Nobel prize laureate of economics in1998),the paper thinks that freedom is the goal and means of socialism.There exist debates on developmental mode between single line andmultiline. The paper thinks that the developmental mode is neithersingle line or parallel multiline, but a mode of multiline-into-confluence is the real mode of mankind development on Earth.The paper defines developing countries as the countries that don' t experience the economic take-off(flying-off) in the era ofglobalization and outside which exist much more developed world. Thelaggard root of developing countries are not only the binding-up oftraditional institutions and cultures but also being depredation bythe western colonist.On the driving mechanism of development, New Classical Economicsthinks that institutions determines transaction efficiency, whichdetermines the degree of specialization and division of labour, whichdetermine the economic development.Chapter 8 makes comments on the various Development Economics bycomparison from the view of five core trade-offs in the course ofmankind evolvement.A general equuilibrium analysis must endogenate the mechanism thateconomic development may destroy the ecological enviroment and whichin turn reduce the economic efficiency. A general equuilibrium analysismust endogenate the relations between the center and peripheralcountries that can explain the arise of colonism and make theperipheral countries laggard. A general equuilibrium analysis mustendogenate the institutions of state and market and explain therelations between them. A general equuilibrium analysis mustendogenate the trade-offs between equity and efficiency and come toa reasonable combination of equity and efficiency. A generalequuilibrium analysis must endogenate the trade-offs betweenexploitation and stimulation and result in a reasonable distributionproportion between capital and labour.Chapter 9 compares the viewpoints how various DevelopmentEconomics understand the developmental elements and phenomenaincluding natural resourses, material capital, saving andinvestment, technical progress, population and human resourses,financial markets and money, institutional enviroment, international and domestic economic relations, economic growth, urbanization andindustrialization, structures in development, business cycle andunemployment etc.Chapter 10 puts forward a general model of mankind development anda eclectic framework to explain the economic development on the basisof summary of comparative research.Any Development Economics results from the specificallyobservation of the economic development in some historical period andhas its positive value. On the other hand, every theory has itslimitation, any theory is not the only truth, ln principle, we cananimadvert on any theoretical system and recognise its limitationthrough understanding its degree of localization.The theoretical reference frame, advocated in this paper, clarifiesthe five core difficult problems in economics nowadays, which guidesto farther breakthrough of the basic theory of economics. Puttingforward problems systematically help to solve problems systematically.To some extent, putting forward problems systematically is moreimportant than solving that.The mankind development is a course of expansion in the scope anddepth of relations among humen. When transaction efficiency is low, thescope and depth of humen interaction is low too, and political, economicand cultural relations is not compact with a local geographical extentlimited in each continent. Along with the advance of transactionefficiency, mankind cooperative relations depthen and go into an eraof globalization and world economic integration.Mankind' s freedom and welfare is the upmost goal of developmentresearches. Development Economics expands its research scope fromrelations among humen to relations between humen and naturalenviroment(Sustainalbe Development Economics) and must expand intothe research of relation between human and itself. Marxism, New Institutional Economics, New Classical Economics andEcocomics of Information Society are four original theoretical systemof development economics, which come to partial truth of mankinddevelopment from some special viewpoint. Therefore, a eclecticframework through colligating the four theories may explain economicdevelopment in the round.