THEORIES OF ECONOMIC DEVELOPMENT
a)
FLOW CLASSICAL
Classical flow
appears at the end of the 18th century and beginning of the 19th century
industrial revolution in which the atmosphere of the days when it was the
beginning for the development of the economy . At
that time the system was rampant liberal and classical liberal economics
according alairan was caused by a race between technological progress and
population growth . At
first the technology advances faster than population growth , but eventually
the opposite happens and the economy will experience congestion .
According to this
flow that the increasing rate of profit will encourage the development of
investment and investment ( capital formation ) will increase the volume of
capital stock (capital stock) . This
will advance the state of the technology level and enlarge the number of items
in circulation so that the wage rate rises, which means increasing the level of
affluence of the population. The
level of prosperity will encourage population growth , resulting in the
enactment of the law of diminishing returns added ( law of diminishing returns
).
Opinion leaders classical
flow theory, among others:
1. Adam
Smith
He claims that economic
development is a need for specialization in order to increase labor
productivity due to specialization will improve the skills of the workforce. In
addition, he also focused on the extent of the market. The market will limit
the narrow specialization (devition of labor) therefore should be as large as
possible so that the market can accommodate the production that attracted the
attention of international trade. Because of international trade relations adds
to the breadth of the market, so the market consists of foreign markets and domestic
markets.
2. David
Ricardo
Three groups of people according to David Ricardo in the economic
community, among others:
a. The capitalist class
Group that led the production
and plays an important role because these groups are
always looking for a profit
and reinvest its
earnings in the form of capital
accumulation so that national income rises.
b. Labour Group
Groups that are generally dependent
on the capitalist class, and this class
is the largest class
in the society
c. Golongan
Tuan Tanah
Groups that received only the capitalist class over the lease
of the land area
leased. This class
of landlords only rent them only think
of a class of
capital on an area of land
that is rented out. David Ricardo said
that if the
increase of population and
continuous capital accumulation occurs, then the soil
becomes less fertile
increasingly scarce in number or absence.
3. Thomas
Robert Malthus
According to
Thomas Robert Malthus that population increase continues to be the elements
that need to the additional demand , but the increase in the number of people
without dibaringi with the progress of the factors or elements other
development is certainly not going to raise revenue and will not increase
demand . The fall in production costs will increase profits of the capitalists
and encourage them to continue to produce .
According to
Thomas Robert Malthus , economic development required an increase in the amount
of capital for ongoing investment , in addition to the absence of economic
growth can be expected when there are savings used for investments . Meanwhile,
according to the law JBSay developing markets , where it is said that the
Supply Creates its own demand , which means the origin of the production
quantity increases then automatically the rising demand will also be sought as
human needs are endless .
So in
conclusion , that in addition to the savings as an incentive for economic
development that is as a source of capital , can also be a barrier to the
development of economic development because it can reduce the amount of
effective demand .
b)
THEORY OF KARL MARX
In theory, he divided the
5 stages of the
development of society :
1. Primitive communal society
This stage people are still using tools that are
still simple and
not owned by individuals but belong together (communal).
In this society
there is no surplus because the people make
their own goods needs. but the longer, the
piecemeal production tools know better. Improvements
in the means of production led to
social changes and then the division of labor
in production.
2.
Slavery Society (slavery)
Production relationships
between the people who own the means of production by the people who only work is
the basis for the formation of slave society. With this way of working as the
owner of the means of production gains will be even greater because the slaves were
given very low wages but eventually the slaves are increasingly aware that a
dispute between the two communities.
3. Feudal Society
Due to the opposition
formed feudal society where the nobility have the ultimate means of production,
namely land.
Feudal relations
of production and the system will change the way social life, so there are two
classes of feudal class is a class that consists of more powerful landlords in
the social relations and the working class.
The interests
of these two classes differ. Feudal classes over just thinking about profit and
then set up factories. The working class which has the means of production requires
a free labor market and the abolishment of tariffs and other barriers to trade created
by the feudal lords.
4. Community Capital
Relations of
production in a capitalist system based on individual ownership, each capitalist
the means of production. This relationship enables the production of very rapid
development because of the means of production would be a great advantage.
Capitalist class
and labor have conflicting interests so that the difference is more and more interest
into the class struggle that eventually arise to form a new society where there
is social ownership of the means of production. It is an important element in capitalist
society.
5. Socialist Society
In this society based on
ownership of the means of production
social property rights (social ownership).
Production relations is cooperation and mutual
support among elements
of the exploitation of free labor in socialist society is that
there are no more classes of society.
c)
FLOW NEO CLASSICAL
Flow rate neo classic
study, which connects the capital price at current value and future. Talks on interest
tigkat finally got the problem of accumulation of capital. In this field the
neo classical theories have contributed much to the development of the opinion.
d)
TEORI
SCHUMPETER
Schumpeter's theory
of development focuses on Entrepenaur who led economic development, along enactment
kapitalis.Sedangkan Entrepenaurship are people who can see an opportunity to introduce
new techniques, new production, new and better organization so as to memperkenalan
development of "new resources".
To make innovation
and discovery has great influence in the economic development of the people who
have the skills necessary to develop the economic aspect (the one called "Innovating
create Entrepenaur")
e)
ANALYSIS OF POST-Keynesian
The
experts in post-Keynesian are those who
are trying to formulate a theory keynes expansion.
Theory keynes was
limited to short-term analysis. For analysis
keynes mennggunakan assumptions based on the state of the current time. For example, the level
of engineering, labor, taste,
analyzed with no regard to the long-term situation. While the analysis of post-keynes attention to the
long-term situation.
CONCLUSION
Based on the ideas in his theories ekomon
then can dikemukakansebagai follows. Classical: Adam Smith pointed out the
importance of factors Divition of labor (division of labor or specialization) in
economic development. D. Ricardo, shows the importance of factors tanah.Thomas Robert
Malthus showed the importance of population growth factor, and influence to increase
the number of requests. While Karl Marx, demonstrating the importance of the
existence of available surplus value (surplus value) for economic development. Post
Keynesia, especially Roy Harrod and Domar Evsey noted the importance of the
role of capital in which investment is more important to economic development,
while Neo Classical look at the role of technology. Schumpeter, the problem of
economic development is the importance of the entrepreneur. If the entrepreneur
is widely available, the economic development will be achieved rapidly.
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