Wednesday, January 18, 2006

What is endogenous development? 

The recent post on oil revenues actually seemed to provoke more discussion on what economic model is best to promote Venezuela's development. That makes this a good place to introduce "Endogenous Development" which has been touted as the basis of Bolivarian economic theory. I won't myself explain what it is. Rather, I will show a post that tells us what endogenous growth is and isn't. That can then serve as the basis for further discussion.

Here is what it says:

What is endogenous growth and what isn't it?

Its a productive model that:

Is based on our capabilities and using our resources.

Uses the centers of Endogenous Economic Development

Motivates the participation of the community in the planning of the economy through new types of organizations and social groupings

Stimulates the democratization of the national wealth

Is organized from the bottom up in relation to the culture of each group of people

Reduces social exclusion guarenteeing the quality of live for everyone

Promotes the adoption of new styles of live and comsumption based on the values of cooperation and solidarity

Rewards productives work before profits

Development of all branches of the economy and the complementary relatio between them, generating productive networks

Its power for the people

Its not:

Its not a model of import substitution

Its not an employment plan

Its not a plan for more production without considering what should be produced

Its not a plan which looks to increase profits for big companies

Its not a government jobs program

Its not exploiting natural resources irrationally

Its not the uncontrolled and inadequate use of technology

Its not production guided by the "invisible hand of the market"

Its not the development of one sector of the economy to the detriment of others

Its not based on the values of competition and egoism

Its not power for the elites


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