A Social-Market Economy for Rapid Sustainable Development
Gujarat National Law University, Journal of Law, Development and Politics, Vol.2, pp. 42-62, 2009
31 Pages Posted: 24 Jun 2009 Last revised: 17 Dec 2013
Date Written: June 23, 2009
This paper sets out the basics of the Import substitution - industrialization (ISI) model for development, the socialist variant of ISI and the neo-liberal theory of developing, critiquing each in turn. Each of these models failed, for different reasons, and in different ways, to attain sustainable solid economic growth and carries with it the seeds of war, albeit different kinds of wars. This paper proposes a social-market model (neo-corporatism) which combines the strong points of ISI, socialism, and neo-liberalism while rejecting their errors to present a dialectical synthesis of several best practices in economic development for the third world.
Keywords: Import Substitution Industrialization, ISI, Socialism, Neoliberalism, Neo Liberal, Development, Aid, USSR, Russia, Southwest Asia, Central Asia, Strategy
JEL Classification: O39, O50, O57, P27, K33
Suggested Citation: Suggested Citation