Over the past decades,the type of economy that has been adopted is neoliberalism. Neoliberalism creates an unstable economy to third world countries, but benefits the first world countries. Neoliberalism could be seen as the practice of unchain, liberate and free from all government boundaries and any rules that could affect the economy between the first world and the third world countries. The mandatory and regulations of the enforcements of the international and in country government associations like International Monetary Fund (IMF)and the World Trade Organization (WTO) are the causes of privatization of markets to happen. This leaves third world countries at the bottom of the global economy and as a result, they are not given the opportunity to develop economically. The cause of this is neoliberal policies since the era of colonialism has reinforced the unequal powers between the first world and third world countries.
In the book “Development and Social Change A Global Perspective” by Philip McMichael, he publicizes “analysis of development processes to world-scale relationship,challenging the assumption that societies are aligned along a self-evident spectrum of growth stages, it implies a ‘development-centrism’- where (idealized western) development is the term of reference” (7). This reveals that the West started to arise power over the South because they were obtaining the resources from them, causing the economy to become unstable and unsteady and not functionable. The West was taking over the South economically, but at what cost was that? This is an issue that is not mentioned, nor acknowledged, but is extremely important. Moreover, I believe that the South is being considered as the poor countries because other cou...
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... SAPs had to take action because all the farmers were not treated like they should have being, but also the children were not fed right and the cause of that caused deaths.
Taking everything in consideration it could be difficult to find one solid solution to all the problems of Neoliberal policies, because one can’t just say yes there needs to be change in the global economy. Some solutions could be that countries that need the more help in developing are the ones that need to grow their own products and sell them in their own country so that they could be economic stable. This would help them because it would give them time to be at the same economic level as the West, but this is just one step of many to succeed. To take in consideration all this could not happen if a global conference is not made to discuss all the issues that need to be regulated and fix.
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