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New Approaches

New Approaches

(p.285) Chapter Eleven New Approaches
The Power of Productivity
William W. Lewis
University of Chicago Press

This chapter reviews paths to economic development for poor countries. The previous chapters have shown two development paths that have worked—those of the Western democracies and the path of Japan and Korea. The Western democracies have achieved very high GDPs per capita by following a high-productivity path. Both Japan and Korea have followed a high labor and capital input path. However, it is shown that these paths are out of reach for most poor countries. The various ways that countries might overcome these problems are discussed.

Keywords:   Western democracies, economic development, productivity, Japan, Korea

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