POLS 3670 Lecture Notes - Lecture 13: Classical Liberalism, International Financial Institutions, Washington Consensus
10 Apr 2016
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Document Summary
Modernization theory: development through catching up with the west. Social changes (education and getting rid of traditional practices) Political changes (creating more efficient state and bureaucracy) Metaphor of evolution: backward societies can evolve into modernization and development by following the western model. Western aid, free markets and opening markets to western investors. Does not consider what will happen if developed countries do not continue to grow and to assist" the developing countries. Does not consider such factors as the instability existing inequalities may create. Ignores the very different circumstances under which western countries industrialized in the 19th century. Ignores the fact that the state played a major role in the industrialization of many western countries. Glosses over the fact that western societies developed on the backs of the. So they came up with a flipped theory (complete oppose) . Argues that the origins of persistent global poverty cannot be understood without reference to the entire international economic system.
