Social Issues

Current (The Global EconomyThe rise of capitalism necessarily resulted in the exploitation of a globular preservation an sparing covenant based on competition and free trade . This spherical rise of capitalism was the end of the centuries old colonial prevail of European commonwealths to most of Afri potbelly , Asian , and American countries . European population paved the way for the stinting development of umteen of these colonies through the introduction of new technologies to boost the economic productiveness of the land , and of course , of institutions to cater the needs of a modernizing societyWallerstein argued (1974 ) that attach between the mother nation and its former colonies (after independence ) resulted to what political economists call dependent economies Former colonies became dependent to their mother nation in terms of aid and technology . The mother nation gave some of their technologies to the former colony but only at the expense of a rising interest rate . woebegone nations became indebted to productive nations . Their economies flummox the greatest debacle in terms of sustainability of the parsimoniousness , economic growth , and of course throng upgrade . Because this relationship is part of the global miserliness (in extension , the requisite for the development of a global economy is the composition of link between colonial nations and its coloniesThus , because of the undesirable effect of a global economy to the nations with relatively small economies , as frank (1994 ) argued (global capitalism shifted to its early form . Oppression today of juicy countries takes the form of unfair economic arrangements , treaties , and other economic pacts , that bring in poor countries in the short run and of rich countries in the long-run . It is safe to say that the rise of global economy under th! e rubric of global capitalism had positive technologies to tame societies , but in turn has been depriving poor nations their equal hide in the world economic pie .

There is some scent out therefore to assume that the development of a global economy was really the development of First World countries . The education is , as Marx (1848 ) noted , upward for rich countries , but any descending(prenominal) or sideward for the poor countries . Instead of economic development , countries may either experience underdevelopment (which is a downward front of the economy ) or stagnation (economic productivity becom es dead(prenominal) to a extra level of productivity . Now , because two ternary and First World countries realized the grim effects of this agreeable of relationship that safety nets have been established to treasure the economies of poor countries . An example of which is the establishment of the European Union to nurse economic cooperation between members of the European family of nationsThere are two orders to meditate this particular . The use of secondary information analysis give assistance the researcher determine whether some countries today experience underdevelopment . A criteria of underdevelopment must first however be developed by the researcher in to determine the correct data (economic or policies ) that should be analyzed . The second research method that can be used in this is the so-called...If you want to condense a full essay, order it on our website: OrderCustomPaper.com

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