This (working) paper, while considering some theoretical insights to the debate, tries to make a conscious decision to seek modern expressions of the major perspectives, viz., liberalism, economic nationalism, and structuralism. It also tries to examine how – as Geoffrey Underhill feels – state and market make up a matrix or a ‘condominium’, i.e. “an integrated ensemble of governance” in order to move in a more welfare-oriented and redistributive direction.
Type of Material:
Reference Material
Recommended Uses:
Assign as homework
Discuss in class
Supplement lecture
Technical Requirements:
Firefox, Chrome
Identify Major Learning Goals:
Solidify his/her understanding of macroeconomic concepts
Learn about capitalism
Undertand government’s role looking at the Indian economy as an example.
Target Student Population:
• Beginner/Introductory/Survey Economics, Introduction to Macroeconomics, Principles of Macroeconomics, and/or Business Students and/or Economic Development in Developing Countries
• Non-economics or Non-business students taking an Economics and/or Business course as a minor
Prerequisite Knowledge or Skills:
none
Content Quality
Rating:
Strengths:
The material is appropriate for the topic being discussed.
The main strength of this collection is that it is a short 9 pages summary that provides theoretical underpinnings of capitalism and government intervention in the market economy to the actual dynamics of the Indian economy with respect to government failure, market failure and the fine balance required between both entities.
Concerns:
Content requires prior knowledge of capitalism and government’s role in a market economy to appreciate its application to the developing country’s economy.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
Instructors could use this short paper as an assignment to apply macroeconomic concepts as well as pique the interest of the students to identify ways of improving the market-government balance in ensuring a uniform economic growth of a developing country.
While the paper is written in 2014, its content is still relevant to the present day.
Concerns:
Since it is a working paper, there are no clear learning objectives identified.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
There is free access to the online paper via a website, and its succinct content is easy to understand with clear headings of ‘State Failure’, ‘Market Failure’ and the balance required between the two before concluding.
It is necessary to access the entire article as the link only takes you to the abstract. Once you access the entire article, you can download the file.
Concerns:
It is not interactive for follow-up since the website is a repository of social science research.
Perhaps, an online discussion forum could help to spur further discussion and input on the topic from other countries including U.S.
Creative Commons:
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