Psychological Principle Of Economic Development.

ARTICLE BY  ABEL.  +234 813 005 4668 PSYCHOLOGICAL PRINCIPLE OF ECONOMIC DEVELOPMENT.  Development economics has really dealt decisi...

ARTICLE BY ABEL. +234 813 005 4668


 Development economics has really dealt decisively with the issue of GROWTH & DEVELOPMENT, while the formal is quantitative in nature, and is measured in monetary terms, the latter is qualitative and it measured in infrastructural and industrial development.
 Goutlet (1971) , a developmental economist,talks about the the three core values of development which is SUSTENANCE   ,self esteem  ,and freedom from servitude
 He sees development as the equity or general equality of all. 
 Seer(1977) among others  posed  three questions, viz  :
What is happening to  poverty?
What is happening to inequality? What is happening to unemployment?
    If l  must  answer this  question, I will say poverty is  sky rocketing, and inequality is the order  of the day, the rich getting richer and d poor getting poorer, in Nigeria unemployment is almost turning into a culture.
 The truth still remains that each time we hear of underdevelopment,backwardness, the  continent that easily comes to our mind is Africa. 
   A big time question always comes to my mind ,each time I think of the above, Are we this backwards?';  because of the colour of our skins(black),or did God   created us so? 
 To me , I have  come  to discovers that the cause  of undevelopment  is psychological in nature ,our un development is as a result of our   behavior towards development. I have come to discover an average African mindset  does not encourage development. It is only in Africa that  a man, will have millions of   car's and houses,were as his neighbour will  be sleeping in   cages, camp and can't even afford a bicycle.
  It was  very  visible  in the  period of Slave trade, when Africans were selling fellow Africans for money and other precious items.
 The same still happens today when our political leaders embezzle our money to develop other nations.,  
The summary of this article is that the reason for our under development is psychological in nature, if our  behavior is not favourable with our fellow African, it can't be favourable with the development of our environment.
  until there is equality,equity, justice, one love, development will  never be a reality. 
 A renewed mindset is a function of a true development that can Stand d test of time.

 The policy implication of the above ,is that the youth of our time should take the boo my the hand, and   cause the  change  ,because we have being exploited for too long, we must fight and create a better Nigeria, that our  children yet  un born can be proud of. And the  only way this  can be done or achieved is with a renewed mindset, a mindset that encourage development.


Amin .S(1977):imperialism unequal development. Review press, New York.

Cole, j(1992): development and underdevelopment, a profile of the 3rd world .

Leibenstein .H. ( 1957): economic backwardness and economic growth. Wiley press ,New York.

Offiong, D .(1980): imperialism and dependency. Fourth  dimension publisher Enugu.




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LIVE LOVE ECONOMICS: Psychological Principle Of Economic Development.
Psychological Principle Of Economic Development.
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