Self-Assessment on Economic Intellectual Traditions

Who developed the theory of Industrialization by Invitation

• Karl Marx

• Sir Arthur Lewis

• Walter Rodney

• Dr Eric Williams

What is the primary goal of Industrialization by Invitation?

• Reduce dependency on foreign investment?

• Invite foreign industries to stimulate economic growth

• Encourage local entrepreneurship only

• Promote self-sufficiency in agriculture

According to Marxism, what is the primary cause of class conflict?

• Differences in education

• Government policies

• Unequal distribution of wealth and power

• Foreign intervention

In dependency theory, why do developing countries remain underdeveloped?

• They refuse foreign investment

• They invest too heavily in industrialization

• They focus on agriculture instead of manufacturing
  
  

• They are exploited by developed nations through unequal trade relationships

Which intellectual tradition views capitalism as inherently exploitative?

• Industrialization by Invitation
  
  

• Dependency Theory

• Marxism

What does dependency theory suggest for Caribbean nations?

• Increase reliance on foreign investment

• Develop internal industries and reduce reliance on foreign economies
  
  

• Focus on agricultural exports

• Invite more multinational corporations
  
  

How can industrialization by invitation potentially create dependency?

• By making local businesses stronger

• By fostering self-reliance

• By relying heavily on foreign companies for economic growth

• By promoting equal wealth distribution
  
  

According to Marxism, who controls the means of production in a capitalist society?

• The working class

• The government

• The consumers

• The bourgeoisie

What is a key criticism of Industrialization by Invitation?

• It decreases employment opportunities

• It prevents economic diversification

• It discourages technological advancement

• It can lead to economic dependency on foreign investors

what model promoted Industrialization by Invitation in the British West Indies

• Operation Beehive

• The 10-year developmental plan

• Operation Bootstrap

• Operation Oil and Gas