POLB90H3 Lecture Notes - Lecture 5: Economic Globalization, Global Governance, Neoliberalism
Document Summary
Dominate theory to try to understand the origins of poverty/why 3rd world countries aren"t succeeding. A traditional society is characterized as a poor, subsistence life without hope of accumulation, income or wealth and there is no attempt to better ones lot in life. Modern society is characterized as forward-looking, committed to growth and improvement. Based on competition and the laws of the marketplace that reward success. Reject traditional values in favour of western values. Follow the course charted by the west; learn from mistakes. Continued economic growth in the north (our job) Concerned with global poverty and seek solution. Assumption that the global system is a level playing field is false. Naive to assume that all countries can follow the exact same path. Dependency theory: assumptions, underdevelopment is a process, not a condition, third world poverty is a product of first world prosperity, international and historical factors are key to understanding underdevelopment, the world capitalist system undermines third world development.
