Persistent poverty of poorer nations
Economic paradoxes affixing economic disparities
posted over 13 years ago
The problem with economic hypothesis is that they pose incongruities which compound the complex distance existing in economic disparities. For instance, to what extent have contemporary ideologies of dependency and modernization provided adequate frameworks of analysis to effect economic dynamic in developing economies? None.
The truth is modernization and free market theories abet dependencia theory. Expressly imploring economic intervention of advanced economies paradoxes the so-called principle of independent trade governance in small economies, undermines and disparages that weaker economies function with unique characteristics and distinguished features.
Take for example; global powers enjoy bureaucratic liberties of free trade; modern day slavery masked by belly low excuses of globalization. Whereas, 3rd world nations have little to no beneficial privileges, none. My theory is a reckoning for a formidable union of underdeveloped countries to collate and openly engage in a term I coined economic polyandry, a liberal agenda to institute financial backbones in poor economies through open expressions of economic dislike or preference for one or multiple power economies.
It should no longer be permissible for power nations to utilize weaker economies’ resources contemptuously, and still strip smaller nations the right to show allegiance to whichever wealthy nations as they deem fit when they deem fit. Majority of colonial masters rule the markets of their colonized regions. Inter-governmental organizations like the commonwealth only expose weak nations to greater unwarranted influx of foreign governance. Infusing a poor nation with world power resources, and technology does not help growth nor advance a nation to modernization. It does not promote healthy ‘inter-economic dependence’ rather fosters cyclical poverty through unhealthy reliance on wealthy economies. It rather, subtly promulgates a whole economic dependency. 3rd world nations must abjure the crutches mentality and openly express who earns their loyalty, where they invest their time and commit their resources. Wealth nations must abdicate greedy sense of entitlement to resources. This must happen soon, and will only succeed if leaders from underdeveloped countries stand in a unified alliance and set their foot firm. Else, they are bound to a stagnant cyclical state of growth without movement.
I rest my case. This is my 2 kobos.
(edited over 13 years ago)