POLSCI 1G06 Lecture Notes - Lecture 6: Group Of 77, New International Economic Order, General Agreement On Tariffs And Trade

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Political Science 1G06 2014 Lecture 6a Development and
Underdevelopment
-Statistics:
- “The per capita income gap between the world’s richest and poorest
countries was 3:1 in 1820, 35:1 by 1950, 74:1 by 1997, and by 2012 it
was 80:1”
- A total of 1.22 Billion people live on less than $1.25/day
- Official Development Assistance from OECD states: 0.52% GNI
1960; 0.29% 2012
oPearson Commission 1969 recommends 0.7%
-Consider:
- “Poor states” are not a homogeneous bloc
- Different types of LDCs have been more/less successful at developing
economically
- Some have stagnated or even declined economically (parts of Sub-
Saharan Africa, Caribbean)
- Others have been at least partially successful at developing
- Newly Industrialized Economies (South Korea, Taiwan, China)
-Question: What accounts both for the relative economic success
of a minority of states alongside the seeming inability for the
majority of states to escape from conditions of extreme poverty?
-What accounts for development and underdevelopment?
- To understand the issue, we must look at history, theory and, policy
-Modern History of “development”
-Period 1: Independence (1950s, 60s)
- From colonialism to political independence
- However, while formal colonialism might have ended, the new states
were not facing the Developed states as economic equals
-3 elements of Inequality:
-A. International Economic Structure:
- The international economic system was characterized by a division of
labour between states
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