ABSTRACT
SUMMARY. The purpose of the game described in this paper is to help students understand the impact of various strategies of government intervention on the dynamic free-market processes stimulating economic development. The game simulates three developing economies. Within the economies, each of the students represents an independent economic entity, able to contribute labor, consume goods, and acquire wealth. The game is played in periods, with each one representing a cycle of production and consumption. In one economy, students are free to act independently, or to collaborate, to invest or save money, to innovate or produce conventional products. In the other two, their activities are constrained by “government” regulations, simulating contrasting strategies of import substitution and export promotion. In the end, students are evaluated according 24to the wealth they create. The three simulated economies provide experiential evidence as a basis for discussing the relative merits of unfettered free enterprise, import substitution, and export promotion as contrasting strategies of economic development. [Article copies available for a fee from The Haworth Document Delivery Service: 1-800-HAWORTH. E-mail address: < getinfo@haworthpressinc.com > Website: <https://www.HaworthPress.com> © 2002 by The Haworth Press, Inc. All rights reserved.]
