All were able to achieve economic growth based on export industries with a comparative advantage in cheap but skilled labour. Political science, the systematic study of governance by the application of empirical and generally scientific methods of analysis. The communication is an important yardstick to measure the efficiency of the information being transmitted from and to different levels of the organization. This is the basic blueprint for what has been termed good governance. the non-existence of their school of thought. What are its principal arguments, and how valid do you think they are? • Gave more importance to social needs as compared to individual needs. Working within this general perspective, subaltern studies sought to rethink history from the perspective of the subaltern and, in this way, bring to light and assert the value of alternative experiences and ways. Solution for neoclassical counterrevolution. These contending perspectives informed political debates about growth and governance and, in particular, what constituted good governance in the global context of development. Eventually, these critiques helped focus attention on the need to broaden the concept of development to include a social development and human security dimension. Challenging the Statist Model: free markets, public choice, and market-friendly approaches -in developed nations, this counterrevolution favored supply-side macroeconomic policies, rational expectations theories, and the privatization of public corporations. Explain your answer. 6. Hayek, echoing arguments he had made years earlier in The Road to Serfdom, argued that the increased economic freedom he believed the neoliberal reforms had brought had put pressure on the dictatorship over time, resulting in a gradual increase in political freedom … Most prominent among these were the postmodern, postcolonial, and subaltern critiques of Eurocentric conceptions of modernity and development. The Classical Theory. Answer: The neoclassical counterrevolution theory says that corruption, inefficiency and lack of economic incentives are evident the economies of Least Developed Countries ' (LDCs). Evidence. The central argument of the neoclassical counterrevolution is that underdevelopment results from poor resource allocation due to incorrect pricing policies and too much state intervention by overly active developing-nation governments. This viewpoint was known as the Neoclassical Counter revolution (Skinner, 2011). Neoclassical counterrevolution in the 1980s called for freer markets, and the dismantling of public ownership, and government regulations. This theory supports free trade and increase in export and the government has … African sleeping sickness is due to (a) Plasmodium vivax transmitted by Tsetse fly (b) Trypanosoma lewsii transmitted by Bed Bug (c) Trypanosoma gambiense transmitted by Glossina palpalis (d) Entamoeba gingivalis spread by Housefly. These critiques succeeded in drawing attention to the ethnocentric basis of the idea of what constitutes development and the potential limitations inherent within this development, the tension between universal theories and a diverse developing world, the treatment of gender in conventional development theory, and the political content of economic development strategies as pursued by national governments, encouraged by international institutions and nongovernmental organizations (NGOs), and concealed behind the notion of aid. 4. Neoclassical, free-market counterrevolution. The neoclassical theory of management took the human factor into account. 5. Characteristics of Neoclassicism • Nature of Literature: • The neoclassical writers reaffirmed literary composition as a rational and rule-bound process, requiring a great deal of craft, labor, and study. Solution for neoclassical counterrevolution. Counterrevolution definition is - a revolution directed toward overthrowing a government or social system established by a previous revolution. What are its principal arguments? argument that neoclassical economics is a figment of their imagination; that, simply, there is scientific economics and there is speculative hand-waiving (by those who have never really grasped the finer points of mainstream economic theory). The study of Modern Economic Theory began in line with the neoclassical counterrevolution in the 1980s. 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