Theoretical Economics Letters

Volume 11, Issue 6 (December 2021)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

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Economic Development via Collaborating Populations

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DOI: 10.4236/tel.2021.116070    213 Downloads   1,132 Views  Citations
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ABSTRACT

Cooperation involves the integration of individual human efforts. When applied to a dyadic division of labor, production and trade, the most fundamental outcome is the unintentional mutual benefit of two parties. This is a fundamental tenet of economic growth through self-interest. Cooperation is manifest in various species in the animal kingdom. Collaboration opens the potential for innovation and the conversion of human capital imagination and creativity into new products and services, where mutual benefit is intentional. While cooperation is essential for ordinary economic growth, the path to extraordinary economic growth and development is collaboration → capitalization → gross domestic product → economic development. In economic development, consideration is given to both economic and social conditions. Collaboration is manifest in human beings and is responsible for superior development that would otherwise not be possible. It distinguishes the human species from all others.

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Ridley, D. (2021) Economic Development via Collaborating Populations. Theoretical Economics Letters, 11, 1101-1121. doi: 10.4236/tel.2021.116070.

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