Draft:Comprehensive Equitable Growth in Developing Countries
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Last edited by Rezaulcma (talk | contribs) 2 months ago. (Update) |
Comprehensive Equitable Growth in Developing Countries:Since most of the people in developing countries are dependent on agriculture in the villages, emphasis should be placed on agriculture for growth. In addition to agriculture, emphasis should be placed on agro-based industries in villages.As a result of the establishment of agro-based industry along with agriculture in rural areas, the additional labor that was created in agriculture due to the development of agro-based industry will no longer be created, as a result of which workers will not need to migrate from rural areas to work in industrial establishments in the city. Permanent employment of locally sourced workers in agro-based industries will increase production in agro-based industries and also avoid urban pressure as these workers do not migrate to cities. And because these additional agricultural workers are unskilled, they cannot contribute much to the production of the city's industries.As a result of establishment of agro-based industries in rural areas, the cost and time required for the raw materials produced in rural areas to reach the agro-based industries will be reduced, thereby increasing profits. And village labor is cheap In developing countries, emphasis should be given to balance agriculture and industry as most of the people in these countries are directly involved in agriculture in rural areas. And in the industry, fairness must be adopted in every sector. Because through this process it is possible to effectively utilize all the locally available labor in rural areas in agriculture and agro-based industries to bring about an excellent economic growth in the developing countries. By benefiting the production of agriculture and agro-based industries in rural areas, the village market will expand and non-agricultural businesses will develop, thereby increasing national growth. Along with agriculture and industry, infrastructure should also be developed fairly. Co-operative societies and small scale farm should be established in rural areas. Studies have shown that productivity is higher in small farms.
And employment and production must continue by investing in heavy and medium industries in the urban . In industries where profits are higher, more investment should be made in industries that increase the potential for capital formationIn the countries where the population is high, labor intensive industries should be developed in the short term and capital intensive industries in the long term as well as cottage industries should be emphasized as these developing countries lack large capital. Basically, production and profit as well as national growth are higher in large Industries.
*Note: Correlation is used for this growth model/theory.
(Writter: Rezaul Karim Chowdhury , Founder: Poverty and Development, Chittaging, Bangladesh)
References
[edit]Lewis Growth theory