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Import Replacement
Import replacement refers to an urban free market economic process of entrepreneurs replacing the imports of the city with production from within the city. The idea was invented by Jane Jacobs who spun off from the idea of import substitution developed by Andre Gunder Frank and widely discussed during the first and second Latin American debt crisis. Import substitution is a national economic theory implying that if a nation substituted its imports with national production the nation would become wealthier, whereas Jacob's idea is entirely about cities and could be called ''urban import substitution''. However, even this would lead to confusion since, in practice, import substitution in India and Latin America were government subsidized and mandated, whereas Jacobs' concept of import replacement is a free market process of discovery and division of labor The division of labour is the separation of the tasks in any economic system or organisation so that participants may speciali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jane Jacobs
Jane Isabel Jacobs (''née'' Butzner; 4 May 1916 – 25 April 2006) was an American-Canadian journalist, author, theorist, and activist who influenced urban studies, sociology, and economics. Her book ''The Death and Life of Great American Cities'' (1961) argued that "urban renewal" and "Slum clearance in the United States, slum clearance" did not respect the needs of city-dwellers. Jacobs organized grassroots efforts to protect neighborhoods from urban renewal and slum clearance, in particular plans by Robert Moses to overhaul her own Greenwich Village neighborhood. She was instrumental in the eventual cancellation of the Lower Manhattan Expressway, which would have passed directly through the area of Manhattan that would later become known as SoHo, Manhattan, SoHo, as well as part of Little Italy, Manhattan, Little Italy and Chinatown, Manhattan, Chinatown. She was arrested in 1968 for inciting a crowd at a public hearing on that project. After moving to Toronto in 1968, she ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Substitution
Import substitution industrialization (ISI) is a protectionist trade and economics, economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton. ISI policies have been enacted by developing countries with the intention of producing development and self-sufficiency by the creation of an internal market. The state leads economic development by nationalization, subsidization of manufacturing, increased taxation, and highly protectionist trade policies. In the context of Latin American development, the term "Latin American structuralism" refers to the era of import substitution industrialization in many Latin American countries from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andre Gunder Frank
Andre Gunder Frank (February 24, 1929 – April 25, 2005) was a German- American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy, but rejected Marx's stages of history, and economic history generally. Biography Born Andreas Frank in Weimar Germany, his parents were the socialist and pacifist writer Leonhard Frank and his second wife Elena Maqenne Penswehr. His family, which was of Jewish origins, fled from Germany when the Nazis came to power. Frank was educated a various schools in Switzerland before the family emigrated to the United States in 1941. The young Frank participated without much success in track and field competitions, earning the ironic nickname "Gunder" (after the Swedish running champion Gunder Hägg) from his high-school teammates. Frank later simplified his first name to "Andre" and adopted "Gunder" as a middle name. In the Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin American Debt Crisis
The Latin American debt crisis (; ) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as '' La Década Perdida'' (The Lost Decade), when Latin American countries reached a point where their foreign debt exceeded their earning power, and they could not repay it. The IMF's response to the crisis has been criticized for prolonging unsustainable borrowing and transferring private banking losses onto taxpayers, which deepened the region’s debt overhang and delayed necessary market corrections. Origins In the 1960s and 1970s, many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization, especially infrastructure programs. These countries had soaring economies at the time, so the creditors were happy to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of Labor
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (Departmentalization, specialisation). Individuals, organisations, and nations are endowed with or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialised capabilities may include equipment or natural resources as well as skills. Training and combinations of equipment and other assets acting together are often important. For example, an individual may specialise by acquiring tools and the skills to use them effectively just as an organisation may specialise by acquiring specialised equipment and hiring or training skilled operators. The division of labour is the motive for trade and the source of economic interdependence. An increasing division of labour is associated with the growth of total Output (economics), output and trade, the rise of capitalis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Economics
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels. Development economics involves the creation of theories and methods that aid in the determination of policies and practices and can be implemented at either the domestic or international level. This may involve restructuring market incentives or using mathematical methods such as intertemporal optimization for project analysis, or it may involve a mixture of quantitative and qualitative methods. Common topics include growth theory, poverty and inequality, human capital, and institutions. Unlike in many other fields of economics, approaches in development econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import
An importer is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade. Import is part of the International Trade which involves buying and receiving of goods or services produced in another country. The seller of such goods and services is called an exporter, while the foreign buyer is known as an importer. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions. Definition Imports consist of transactions in goods and services to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accounts includes and excludes specific "borderlin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
