The Role of Values in Economic Development: Why Tanzania is Not Developing (Rapidly).

Abstract

Economic performance depends on people and their values, which involves questions about the nature of virtue, goodness, and duty. The law of supply and demand encompasses production and consumer preference based on rational behaviour in order to maximize utility. Enabling one to obtain what one wants with regard to choice of goods and services in the operation of market mechanisms which involve technology, institutional and educational changes generated inside and outside the market. This paper attempts to examine the role of values in economic development and discusses the reasons why Tanzania is not developing rapidly.


African Journal of Finance and Management Vol.7(2) 1999: 114-127