Hope for the Third World

Paper Summary:

This paper looks at Third World countries and examines how they differ. The writer of this paper feels that the lack of modernization is an example of the symptomatic problems of the Third World's poverty rather than as a cause for it. The writer argues that the people in developing countries are dependent on the West. The author shows how most people living in Third World countries never see the west's foreign aid dollars; they are spent instead on wasteful socialist economic schemes or at Harrods. The author argues that their governments wouldn't exist without them. He explains that it's also common knowledge that higher standards of living encourage lower population growth rates. The paper concludes that there is hope to be found in the development of industrial and technological sectors in these countries, as it encourages the emergence of a middle class

From the Paper:

"It has been argued that if one wants to understand the nature of inequality between the north and south, he has to understand the role of technology in the international system. Someone who would say such a thing overlooks the fact that it's not the amount of technology that counts, but how you use it that matters. In the wealthiest western nations, the use of technology has been actively directed by well-regulated capital lending mechanisms. These financial instruments allow inventors, laborers, and merchants to borrow money at interest that can later be repaid within the context of a legal environment that protects property and contracts."

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