Economic complexity

Via CNN (19 Jan 2012), by Dayo Olopade:

What is economic complexity? The authors explain that "society functions because its members form webs that allow them to specialize and share their knowledge with others." The Atlas focuses on exported goods (not services), tracking how easy it is for an economy to leap from the simple (growing cotton, or making steel) to the complex (manufacturing garments, or building cars). The easier it is for a nation to diversify exports and, in turn, produce skilled workers and pricy exports, the more complex it is. Thus economic complexity, per Hausmann and Hidalgo, "reflects the structures that emerge to hold and combine knowledge." Notably, this includes demographic trends and social networks -- the webs and serendipities often lost in pure GDP analysis.

One question this article made me think about is the following: Is it perfect information which is one aspect of Economics, or is Economics itself evolving based on how much information people have access to today?

Thanks, Taha!

Comments

Tanzania is not Tasmania

Dear friends: Please let's stop refering to Tanzania as Tasmania. Here is why. Tanzania is located on the coast of East Africa, below Kenya. It is not origin of the the cartoon character from your childhood. Tasmania is an island which is part of Australia. The animal known to exist only on Tasmania is the Tasmanian Devil. Once again, you will see this is not the cartoon character you remember from your childhood. Let's summarize: Tanzania is not Tasmania.

Policy Brief 2: Why is Tanzania Poor?

(Policy Brief # 2 Submitted December 6th 2007, for Econ 346 - Economic Development, Lafayette College) Over the course of the 20th century, Tanzania experienced a multitude of social, political and economic changes. It still remains poor today. The WorldBank classifies a ‘low income country’ – such as Tanzania – as one with a Gross National Income per capita of $905 or less (WorldBank Data 2006). As of 1992, Tanzania ’s per capita income was recorded at $110, and average per capita consumption was $0.5 per day (OECD 2000). Several possible factors have been blamed for contributing to current hardships, such as Julius Nyerere’s failed attempts to collectivize agriculture between 1961 and 1975 through his socialist Ujamaa policies as the first president of Tanzania (Pratt 1980). While pre-independence plans “focused on the commercialization of agriculture and the creation of industries that could reduce the need for a variety of imports”, post-independence interventions by the Gov...

Revision rinsed II

When discussing communication for development, we tend to argue against the models based only on diffusion of media technologies. That is, in pursuing a critical approach to development practices, we tend to support participatory approaches to technology use and engagement. Yet, we leave development practice in the abstract. We stop short at revised theory, and consult with practice initiators who attempt to materialize the abstract. Even there, we treat attempts as cases, and recriticize to align with still revised theory. It's time the field of communication for development confessed its efforts to change market-based activities. It's also time that it confessed that power in the market is strong, and at most times, stronger than the power of discourse. Instead, the field of communication for development should hold strong to the assumptions that structuralist development practice has not worked. That's that. Why go further to assume that a new theory is needed, or...

mink

Search This Blog