Development Economis Essay

793 words - 4 pages

DEVELOPMENT PROJECT

URBANIZATION
Urbanization is an index of transformation from traditional rural economies to modern industrial one. It is progressive concentration of population in urban unit. The traditional sector is viewed as a supplier of labor, whereas the modern sector is supposed to soak up its supply. Supply can’t be immediately soaked up because of the limited supply of capital.
The Lewis model states that there is a surplus of labor in the traditional sector and labor is subject to diminishing returns and output is stagnant after a certain point. This sector is characterized by ...view middle of the document...

The uncontrolled migration of labor to already crowded cities and towns has led to the proliferation of slums. Rapid urbanization in developing nations leads to creation of slums; drop in living standards in urban areas and causes serious environmental damage. These industrializing countries cannot adapt to the influx of rural immigrants, and if left untreated, uncontrolled urbanization will not only slow the city’s development but also the nation’s ability to modernize. Urbanization in India has been very rapid and has occurred due to the rural push rather than the urban pull. The country does not have a strong economic base or the infrastructure to sustain this huge migration from rural to urban areas. This leads to congestion in urban areas and a rise in urban poverty.
Government policy should be based at getting as close as possible to the efficient allocation of resources and increasing national product. If government gives setup incentives to businesses then, in the short run, it will decrease the size of informal sector as the major supply of labor will come from this sector. But in the long run due to rise in the expected urban wage, migration will increase from rural to urban areas. With time the expected urban wage falls and the climbing agricultural wage reach equilibrium. This policy increases the size of the formal sector, as well as the size of the urban informal...

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