Exam 10: Development and Underdevelopment

Modernization theory suggests that in the 1500s societies of the Global South were undeveloped.Which of the following can be said about this belief?

Dependency theorists and their supporters like to blame developing countries for their lack of progress.

Which economist could be identified as a person opposed to Keynesian economic ideals?

Estate agriculture greatly facilitated the development of Third World economies.

Compare and contrast two of the theories of development outlined in the text.Identify the strategies you think might work and explain why others would not work.

What is import substitution?

According to Paul Bairoch,when did the Global South begin to experience deindustrialization?

Which development theorist would describe development as a traditional society "taking off" after it came into contact with a developed society?

In a class discussion,Adrienne argues that the lack of development in some countries is not due to people who lack a work ethic,but rather it is the result of the power nations exploiting the people and the land in these societies.What theory of development provides the basis for Adrienne's argument?

What term is given to "the pursuit of competitive enterprises for profit"?

What is the ratio of the richest five percent compared with the poorest five percent of world citizens?

A developing country in debt to the World Bank was offered financial assistance to alleviate the economic crisis if it would abide by certain conditions.The conditions were privatizing state-controlled services,importing goods from developed countries,and ending tariffs protecting local businesses.Which kind of economic theorizing supports this approach to development?

Samir always struggled to make enough money for his family to live on and was aware of wealth differences,especially when he compared himself to Evelyn,the owner of the factory where he worked.However,in the 1970s,he became aware that the gap between himself and Evelyn was growing.In addition to transnational corporations and technological advancements,what factor added to the widening income gap?

Amy's grandparents experienced the Great Depression of the 1930s and share with her the challenges they endured at a time when the unemployment rate was 30 percent.Which approach do her grandparents believe to be the best for the economic development of a country?

What U.S.foreign policy between the 1950s and the 1970s had a big impact on the development of Third World nations?

W.W.Rostow is credited with the formulation of the modernization theory of development.

What mechanism of commerce and exchange existed between the metropolitan powers and the Global South?

You see an economist being interviewed on television and he says,"Neoliberalism has had dramatic and calamitous effects upon developing countries ...especially in the wake of the global financial meltdown.The government needs to enforce strict regulations on the banks and financial institutions of the North,or the global economy will fail." What kind of economist is he?

Which type of theorists blame Third World societies for their own lack of development?

Paulo is a political candidate in Argentina.The media has reported that he is highly likely to be elected,solely due to his stance on economic policy.What position has Paulo taken?