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Journal cover: Humanomics


ISSN: 0828-8666

Online from: 1989

Subject Area: Economics

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Economic development: corruption, complexity, wealth, and a triad of strains

Document Information:
Title:Economic development: corruption, complexity, wealth, and a triad of strains
Author(s):Bruce W. Finnie, (Pacific Lutheran University, Tacoma, Washington, USA), Linda K. Gibson, (Pacific Lutheran University, Tacoma, Washington, USA), David E. McNabb, (Pacific Lutheran University, Tacoma, Washington, USA)
Citation:Bruce W. Finnie, Linda K. Gibson, David E. McNabb, (2006) "Economic development: corruption, complexity, wealth, and a triad of strains", Humanomics, Vol. 22 Iss: 4, pp.185 - 204
Keywords:Corruption, Economic development, Freedom, Political risk, Responsibilities
Article type:Viewpoint
DOI:10.1108/08288660610710728 (Permanent URL)
Publisher:Emerald Group Publishing Limited

Purpose – This paper seeks to use a multi-disciplinary approach to analyze past and present economic and social explanations for development phenomena. A number of key factors may be missing from the current paradigm.

Design/methodology/approach – Comparative country surveys of corruption, ownership, freedom, and individualism are analyzed and discussed. Measurements on nine separate indices are evaluated for 97 nations. These interact to form a model labeled the Triad of Strains with three composite axes: ownership-responsibility, freedom-actualization, and control-corruption.

Findings – Three theses are suggested from the comparative analyses: without ownership there can be no responsibility, freedom and responsibility go hand-in-hand, and unwise use of political control severely undermines economic development.

Research limitations/implications – Limitations include unavailable data for key areas such as North Korea.

Practical implications – Implications are that development policies should promote meaningful private ownership and personal freedom.

Originality/value – This research explores how ownership and freedom critically impact prosperity and provides a more complete, multi-disciplinary framework for economic development.

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