Reconceptualizing Development: A Linkages-of-Capital Approach
Current theorizing and measurement do not really capture the multidimensional nature of development. The received wisdom fuelling development efforts has highlighted the importance of technological accumulation (Bell and Pavitt 1997), economic modeling (Zafirovski 1999), people’s participation (Redclift 1992), bilateralism and multilateralism via trading blocs (Riley 1998), structural adjustment and the importance of contemporary knowledge management. (Jayarajah and Branson 1995). The major deficiency of these approaches is that they have largely focused on one aspect of development and the resultant practices have spawned a variety of destabilizing and decivilizing processes which continue to escalate: rich-poor gaps, gender, social class, religious geographic inequalities and social problems. These have been further aggravated by materialist values which usually accompany capitalist-driven development. Collectively, over time, the aforementioned impacts and approaches have sometimes increased or decreased the strengths and vulnerabilities of economies globally to varying degrees. One international response to shortcomings in measurement was to strengthen the (GNP) or Gross National Product with the HDI or Human Development Index. The former was a purely economic measure while the latter, (HDI), took into consideration other factors such as literacy levels, life expectancy and educational attainment. (Beneria 2003). After decades of development theorizing, research, policy formulation and program implementation, the ‘balance sheet’ still shows little progress in some areas and increasing inequalities and deprivations in others. This obviously requires that we revisit current notions of development particularly now when many development perspectives are only addressing parts of the issue. (Kothari and Minogue 2002). Moreover, we need a philosophy for development, one that prioritizes the need for people and nature to be harmonized, theory development be interdis
