Reason for Development
The need for economic development in 'Third World' nations is
impromptu. An attainment of prosperity is one of the first goals these nations
set. For example, the recent election victory of Vicente Fox in Mexico, promises
to "simultaneously modernise the economy and spur 7 per cent growth"
(The New York Times, 2000) Many theories of why the urgency for economic growth
'is' a prerequisite for developing nations are argued intellectually. Hamilton
(1998: 24) proposes that "with the industrial revolution, the decline of
traditional agriculture and the division of labour, exchange and money became
essential for survival". Cole (1999: 167) formulates a fundamental theory
akin to sociology, supporting "progress as a consequence of the free choice
of individuals to act according to their own, best interests". This
corresponds with Adam Smith's conception of human nature, what he called the
"desire for betterment" - the profit motive.
Having the masses "economically manifested in the chronic purchasing of new
goods and services" (Detwyler, 1999), 'consumerised', governments have
viewed this as profitable, allowing investment from foreign businesses. Many
controversies exist when there is this 'globalisation'. Society and the
environment are affected, though for cash strapped nations, the quick buck is
the most vital.
Back to Development