Lessons on Cultural Led Economic Development Practice 2010

Since the mid 1990s, two worlds have been somewhat reluctantly colliding. Far from this being a universal and magical cosmic event, the fusion of culture into economic regeneration has been controversial and has split opinion on both sides.

“Mozart is Mozart because of his music and not because he created a tourist industry in Salzburg…. Picasso is important because he taught a century new ways of looking at objects and not because his paintings in the Bilbao Guggenheim Museum are regenerating an otherwise derelict northern Spanish port…..” John Tusa, as Chairman of the University of Arts (1999) Read the rest of this entry »

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Economic Development and Growth

In general words, economic development refers to the problems of underdeveloped countries and economic growth to those of developed countries. The raising of income levels is generally called economic growth in rich countries and in poor ones it is called economic development. But this view does not specify the underlying forces which raise the income levels in the two types of economies. The problems of underdeveloped countries are concerned with the development of unused resources, even though their uses are well known, while those of advanced countries are related to growth, most of their resources being already known and developed to a considerable extent. Read the rest of this entry »

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Obstacles For Economic Development

All the nations of the world would be developed nations in the future depending upon several factors. There are variations in the economic development of the countries due to historical, economical, social, geographical, political reasons. The developed countries of the world such as the U.S.A., analysed the local conditions effectively and correctly at an early stage and thus their economic policies have been exactly suitable for their nations. Hence it could become a developed nation at an early stage.

India would have been a developed nation had it not been a colony of Britishers, and had the population growth rates minimised. India also has been spending huge amounts on defence due to internal and external strife. For instance, it has been facing the problems of terrorism both within the nation and also from other neighbouring nations. India possesses huge quantities of natural resources and also has favourable climate to grow a wide range of crops. But political and administrative corruption seem to be one of the major obstacles for India’s growth though the social and economic policies are effective on paper. For instance, the mixed economic system soon after independence and the present market oriented policies are suitable for India’s domestic economic and social conditions. Read the rest of this entry »

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