POL SCI 20 Chapter Notes - Chapter Causes of the wealth and poverty of nations: Oligopoly, New International Economic Order, World Trade Organization
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Ldcs paying back debts in hard times rich-country cooperations can profit from law wages in the ldcs means that they may have little interest in encouraging development that will raise wages. Europeans "set up extractive states with the intention of transferring resources rapidly to the metropole. These institutions were detrimental to investment and economic progress. " These institutions too persisted and served to impede successful development to evaluate the argument: settlers" mortality rates were strongly correlated with undevelopment today how does the international economy affect ldcs: Prebisch argument: ldcs produced mostly raw materials and agricultural products, while rich countries produced manufactured goods. Development policies politics import- substituting industrialization (isi)- a set of policies, pursued by most developing countries from the. Proposed curtailing the rights of foreign investors, revising trade agreements to favor the products of the developing world, and enhancing the influence of ldc governments in international economic organizations.
