Development Essay

733 Words 3 Pages
Gianina Hospedales

The now developed countries were never underdeveloped although they may have been undeveloped. Discuss

What is development? Development is economic independence from foreign powers. Countries such as the United States and The United Kingdom can be considered as ‘developed’ countries. The most important obstacle to development is political: Governments believe that they could manage economic development better than the free market. Most Third World countries for e.g. the Caribbean, lack investment capital. Private entrepreneurs prefer to invest in safer markets of the West than in their own countries. According to Andre Gunder Frank, “Third world countries may be undeveloped at the start, but they have
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Underdevelopment is an active part of impoverishment as a result of development which means that some parts of the world become underdeveloped because others are developed. Economic growth in ‘first world’ countries created the ‘third world’ poverty. It does not necessarily mean that the third world countries are poor compared to the more developed countries but it is poor because of the industrialization of North America and Europe which impoverished the third world societies because of colonialism and extractive ways of trading. Before modern economic growth the larger countries did not have proper means of connecting to each other for trade because specific networks were not yet created. Through the spread of
Capitalism, the ongoing search for profits and monetary gain had begun through the production of goods for example sugar in colonies such as the Caribbean. As a result of the exploitation of raw materials and labour, there was a spread of poverty and a change on the social structures in the Caribbean and a growing dependency on North America and Europe. However, there are theorists who argue that the more advanced countries have relied on the third world through history in order to grow and prosper.
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