What is the meaning of a knowledge based economy? The term “knowledge-based economy” results from a fuller recognition of the role of knowledge and technology in economic growth. Knowledge‚ as embodied in human beings (as “human capital”) and in technology‚ has always been central to economic development. In the knowledge-based economy it is the production of ideas‚ not goods‚ that is the source of economic growth‚ and the reason that the new computing and telecommunications technologies are
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CHAPTER 1 INDIA’S TRANSITION FROM A CLOSED TO AN OPEN ECONOMY A moment comes‚ which comes but rarely in history‚ when we step out from the old to the new‚ when an age ends‚ and when the soul of a nation‚ long suppressed‚ finds utterance. 1.1 These are the words of Pandit Jawaharlal Nehru‚ the first Prime Minister of India‚ in his speech marking the Independence of India on 14 August 1947. These words still hold true today as India moves onto the global scene and is making its presence felt as
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Economies are different throughout the world. Many countries have decided on similar economies to other countries. Two of these economic systems are market and command economies. These two economies are the two most common economies throughout the world‚ and are often compared and contrasted amongst countries. The first economy is known as a market economy. This economy is generally ruled by the people. The decisions of everyday civilians affect the economy daily‚ and can quickly change due to this
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with no jobs and found that the cost if living had risen. However‚ as industry became more efficient‚ assembly lines products could be manufactured with the development of quicker and for less money‚ and the Canadian demand for products grew. The economy started to boom‚ all due to jobs‚ price cuts and manufacturing opportunity. The 1920s saw the development of the car industry. Industries developed mass production during the 1920s products could turn out more quickly for less money‚ this changes
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which suffered worst. The population growth of the nineteenth century helped to stimulate further economic development. There was a plentiful workforce and more people to buy goods‚ and this encouraged more investment and enterprise. Nor were there any great problems about feeding and educating these growing numbers because prosperity meant that the necessary resources were available. Later on‚ there were unexpected effects on the age structure of the population in the developed
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UNIT 6 POLITICAL DEVELOPMENT ECONOMY OF Structure 6.1 Introduction 6.2 The Global Divide 6.3 Poverty of Income Comparisons 6.4 Global Social Reality: Essentials of Maldevelopment 6.5 Agenda of the Political Economy of Development 6.6 Some Important Aspects of the Political Economy: Theories of Development 6.7 Capital Accumulation: Role and Limitations 6.8 International Capital Flows 6.9 Role of the State 6.10 The Counter Revolution in Development Economics: The LPG Package
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2009-10. NREGA creates transparency and accountability in governance. All NREGA beneficiaries now have accounts with banks or post offices. The scope of the programme is limited to unskilled manual labour. The scope can be extended through increased land productivity. Land productivity can be maximized through better convergence of NREGA with other programmes Sustainable development is the ultimate goal of NREGA. M.S. Swaminathan‚ Father of Green Revolution in India argues that there is a synergy between
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Free market economy stimulates greater economy growth‚ whereas state-directed or command economy stifles growth. Discuss. An economy can be defined as the production of the nation in a period and consumption of goods and services. The two main systems of economy are free market economies and command economy. There are lots of arguments about which is better for the growth of nation’s economy. This essay is about both the two economic systems and how they impact the growth of economies‚ it will be
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Shomoi Francis Mr. Joseph English 12 26 November 2012 War: Effect on Economy War has influenced economic history profoundly across time and space. Winners of wars have shaped economic institutions and trade patterns. Wars have influenced technological developments. Above all‚ recurring war has drained wealth‚ disrupted markets‚ and depressed economical growth. Wars are expensive (in money and other resources)‚ destructive (of capital and human capital)‚ and disruptive (of trade‚ resource
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A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy.[1] Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization‚ where prices are set by market forces rather than by a central planning organization. there is a push to privatize state-owned enterprises and resources‚ state and collectively run enterprises are restructured as businesses
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