Elaisa Mae V.

Sebastian

BACC- 1 (BLK 1)

ASSIGNMENT FOR MODULE 3

QUESTION:

1. Explain the meaning of dualism and dual societies. Do you think that the concept of
dualism adequately portrays the development picture in most developing countries? Explain
your answer

2.What is meant by the term neoclassical counterrevolution? What are its principal
arguments, and how valid do you think they are? Explain your answer

3. Other developing regions of the world have not been as successful in raising their
standards of living in this period. Can you identify several factors that might have been
responsible for these poorer results?

4. What measures can the poorer countries take to accelerate their growth to bring their
standards of living more in line with the rest of the world?

ANSWER:

1.The term Dualism is characterized as the idea under which the nation is segregated dependent
on their monetary status that is being poor and rich and double socities are those which are
characterized by the divison between them dependent on their social situations with. It is the
worldwide structuralist model which featured the idea of double social orders. This implies that there
exist rich countries and helpless countries at world level; and a couple of rich went with a larger
part of destitute individuals in the non-industrial nations.
The term Dual Society refers to a society where to different sectors co-exist. These sectors are
divided by different level of development, technology and pattern of demand. For instance,
rural and urban sector are coexisted. The rural sector is characterized by unskilled labor and
populated. The surplus labor of the rural sector is absorbed by the urban sector.
We think that dualism concept can portray the development picture in the most
developing countries. Where there are two different life circumstance, one is better than
others, and others are more desired than another. It is reasonable and relatable as everyone
naturally wants to live in a better environment o that they could enjoy better living standards
and escape poverty.

2. The term Neoclassical Counterrevolution emerged in the 1980s within the western context
which stress the importance of free-market economy in dealing with the problem of
economic development and policy. It emphasized privatization of corporation in
development countries and governance deregulation from the economic activities and public
ownership in developing countries.
The principle argument this concept made regarding underdevelopment when it
emerged against other, put emphasize on the poor resource allocation because of too much
intervention from the government and its weak pricing policy. Neoclassical Counter
revolutionist believe that for the economy to develop, we need to promote a free market policy
and let the market setting the price for itself without much intervention. State intervention
could come with wrong pricing policy that restraint or ignore the market power, and the
possibility of state corruption and inefficient ability to understand the market. So, the main
argument here is that, market need to be privatized and free for the economy to develop. This
argument seems valid because free market economy has been practiced since then and today’s
world still take up the model. This model has brought many developing countries to open up
and receive investment which result in the growth of their economy and exposure to the world,
thus, this model is valid in a sense it does really brought growth and certain degree of economic
development to a country.

3. Some countries have extremely high debt levels. This implies they must pay a
significant amount of money in interest and repayments, leaving relatively little money for
development projects. Environmental factors - certain areas have environmental concerns
that make it difficult for them to develop. It is widely agreed that countries' economy do not
grow fast enough to keep them out of poverty. Instead, countries become poor because they
shrink too frequently, rather than because they are unable to grow, and research suggests
that just a few countries have the capacity to limit economic shrinkage.
4. The growth rate of a country's gross domestic product (GDP) per capita is one approach
to quantify the progress in its living standards. 1 This measure can be broken down into the
following components:
The rate of increase in GDP per hour worked (a measure of labor productivity) The rate of
increase in the number of hours worked per capita (a measure of the extent of labor
utilization)
Increased income, as well as access to governmental programs that can help those who have
very little get ahead more rapidly, are two ways to improve people's standard of living. The
use of public transportation frequently results in a higher level of living. Another approach to
raise one's level of living is to have access to basic health care.