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Economics/political economic theories

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Question
Having a different school of thought coming up with different theories, such as mercantilism, Liberalism, and Marxism. Which of the three is the best for developing countries and why it is the best option. Thanks.

Answer
I am happy to find that you have chosen "allexperts" to answer your question. This is thw world's largest Quality answering forum.

Charles Darwin, the British naturalist said that the species in the world, including the human race, was governed by the concept of the “survival of the fittest”. Human shared the worldly environment with other species, expanded the needs to economic and social dimensions by his innovative brain, and survived.  These dimensions created a survival class, dividing the human individuals into groups and conglomerated them into “manpower”. This became a prime component in the growth and development of people all over the world. The human beings innovated and expanded their needs from the basic (food, shelter and clothing) to essential, support, luxury and super categories. These aspirations needed a politico-social administrative infrastructure.

It started with an individual as a monarch.  But, Monarchy was found to be a selfish rule, oriented toward the benefit of the ruler and the people around. Hence, it has come to an end all over the world. Then the monarchy supported by an elected domestic parliament started ruling the people. But the monarch and the parliamentarians are found to be jointly working for their personal interest as a primary aim, than that of the people who elected them and honoured the monarch. It was established that, however strong a nation may be, the lack of professional expertise of the ruling persons on the productive sector management, led to economic failures and promoted social dissatisfaction. With the invention of automation, Capitalism stared flourishing in the world, created a wedge between the investors and the labour, and divided the people. Hence, it is now functioning with its own limitations.  Then the elected social representatives ruled the public under the name of  Democracy.  The elected representatives, who are “more popular people than technically competent professionals” formed their own social groups, jointly worked with their personal interest as a primary need.

They made complex laws to crush the capitalists and to control the labour. They collected  bribes from both,  by helping them  to  by-pass the laws and shared large sums of national wealth among themselves. Now, the Democracy survives in turbulent atmosphere at different parts of the world.  Democratic socialism   smoothened the social relationship within the organisation, without any contributory effect to upgrade the national GDP. With the development of Global trade, third world nations leased the country and the domestic resources at the disposal of foreign multi nationals, at the cost of domestic loss. Ccommunism made the state as a monopoly holder of all the national wealth. It treated the domestic population as a slave of the state, without any participation in the decision making. It behaved like a “monarch” with a few self-assumed individuals on the top. Hence, it exited from the world. The world has tried all these methods of rule at different locations of the globe and today all the nations are in an economic crisis. This in turn diffuses social dissatisfaction and promotes human migration across the globe, in search of their basic needs and possible higher level satisfiers.

Since the needs and provision for the world population is centered around mass production of different commodities, the sector producing the commodities should take a lead in any national Administrative and Productive Infra structure.  It starts with forming sector wise conglomerations by all citizens in the age of 18 to 59 based on their aptitudes and expertise. The conglomerations so formed coordinate and cooperate with each other and function to optimise the resource utility and continual upgrade of the GDP. These product/service sector and Bank sector   provide the basic, essential, support and permissible luxury needs for all citizens. They follow the path of domestic investments from domestic savings, utilise domestic manpower to operate the domestic technology. Evaluate their performance with reference to an integrated Socio-Economic development oriented Goals and Productivity units, and work out 4 dimensional Rate of returns.

Each nation should function like a Multi National Corporation, with different sector products/services, optimise the resource utilisation, and share the profits with a broad based population.  The sectorism is tuned for Full employment, GDP Growth, Global Leadership, International Trade Exchange, Optimal Production/Service and Poverty Removal.
“The old order changeth, yielding place to new” are the words of Lord Alfred Tennyson, the great English poet in the “The Passing of Arthur From his Idylls of the King”. So the “Sectorism” is a new order for the current and future millennium, replacing all the old politico-economic administrative systems, tried sofar.

SEE Author’s book “Sectorism – Country Management for Global Leadership” at
http://drvsrs.com/store/page1#22  (ISBN : 978-3843389167)  

Economics

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Dr.VSR.Subramaniam

Expertise

Basically a B.Sc (Physics) from the University of Madras, India. Started the career in production engineering under German and Italian experts. MBA in Management from IIM, Ahmedabad (India). Ph.D (Management) from the University of Bomaby (the first ever awarded in this subject). Headed the computer centres of Multi nationals; "Data Processing expert" of the Commonwealth, London (To implement World Bank and UNDP Computer softwares); "Consultant Adviser" to the Caribbean Development Bank (CDB), Barbados. Associated with Nobel Laureate in Economic Science-1979, Arthur Lewis (Past President of CDB) & 4 more on his introduction. Visiting professor to many universities. A Trained ISO 9001:2000 Quality Auditor. Over 40 years of combined experience in Accounts, Computer Software, Economics, Engineering, Management, Science, Technology, Research & Development and Qulaity systems. Author of over 60 Application Research papers. Currently a free-lance consultant in ISO Quality Systems, Socio-Economic development acceleration, Innovative software designs. Can answer any question in Theoritical/Applied-economics with an in-depth and innovative dimension. I DO NOT ANSWER : 1. STATISTICAL data & analysis. 2. PRIVATE questions, as they do not appear for PUBLIC view & search 3. Examination & Project report oriented questions. Website http://www.drvsrs.com

Experience

Experience in the area Over 40 years in Industrial, Service and Economic development sectors. Socio-economic development oriented expertise (1982-86). With Commonwealth Fund for Technical Cooperation, London as a "Data Processing Expert". With Caribbean Development Bank, Barbados (UNDP,World bank set up) as a "Cnsultant Adviser". See "http://www.drvsrs.com/drvsrs.htm" and "http://www.drvsrs.com/publication.htm". National & International awards. R & D Author at http://ideas.repec.org/e/psu50.html and http://www.ssrn.com/author=360079

Organizations
Intellectual Consultants. A proprietory Research and Development unit under the theme "Innovation. Information & New Concepts"

Publications
See at http://www.drvsrs.com/publication.htm & http://dvsrs.com/store/page2.html

Education/Credentials
See full details at http://www.drvsrs.com/drvsrs.htm (1) D.Litt in Computer Science - 1983. World University, USA. (2) Ph.D - 1975. First management doctorate awarded by the University of Bombay, India, after the inception of the subject. (3) MBA – 1966. IIM, Ahmedabad. India. First batch. 4) B.Sc - 1959. Physics. University of Madras, India

Awards and Honors
Biography is listed in International Who is Who of Intellectuals (UK), Men of Achievement ( UK ), Men of Distinguished Contributions (USA). National and International awards and Citations.

Past/Present Clients
See at http://www.drvsrs.com/software.htm

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