Tag: Theories of development
The Post-Development Perspective became popular in the 1990s. Theorists from within this perspective are critical of Western models of development, arguing that development was always unjust, that it never worked, and that developing countries should find their own pathways to development. Escobar (2008) criticised modernisation theory for being ethnocentric. He argued that it was only…
Why Nations Fail: A Summary
Failed nation states have a history of ‘extractive institutions’, successful ones have developed more inclusive institutions.
The Neoliberal Theory of Economic Development
According to neoliberalism big government and too much official development aid prevent economic and social development, while deregulation, privatisation and lowering taxation are required to achieve economic growth. This post outlines the neoliberal approach development and then briefly assesses the effectiveness of neoliberal policies. What is Neoliberalsm? While the usage of the term neoliberalism varies…
World Systems Theory
Core countries exploit those on the periphery in a global economic system.