GEOG 104 Chapter Notes - Chapter 15: Gross Domestic Product, High Standard Manufacturing Company, International Monetary Fund
22 Jul 2020
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Developed countries are mostly the ones that managed to industrialize first. Developed countries are those nations that have achieved a high level of human development, that is, of living standards, as well as sustained growth in the economic, humanistic and industrial areas. It is just the opposite of underdeveloped or developing nations. Life in developed countries has more benevolent and protected conditions than in underdeveloped countries, given the strength of their institutions, their high degree of industrialization and the guarantee of basic services and rights. In addition, since the fundamental needs of the population are met, their potential can be better organized and harnessed. The developed countries today are mostly the ones that managed to industrialize first, partly thanks to the distribution of the wealth of the colonized territories during the stages of imperial expansionism. Others, on the other hand, owe their high standard of living to the correct use of high-demand natural resources, such as oil.
