Chapter 19.3, Problem 3R

To determine

To explain: The reason for finances provided for development help Europe after the second World War but does not help today.

Explanation of Solution

When finances were provided after the second world war to the European countries for development, it helped aid their economy. The problems faced by developing nations, get mostly solved by injecting money capital. This helps Europe after the Second World War because there were skilled labor forces and experienced bureaucracies available at that time in Europe, so it was easy to aid the economy.

Providing finances does not help today due to many reasons, the main of which is that nations are developing, and they do not have the skilled labor force and specialized agencies available now. Also, the attitude and belief of people in that nations are different from earlier times, they are not ready to invest in hard work. High population growth rate and misuse of resources are also reasons for this.