modernization theories and third world development
Isbister (2014), when addressing the modernization theories and third world development, argues that “Capitalism is a system of decentralized power with many different people controlling the wealth of the country.” (p. 38).
I disagree entirely with his postulation that ” Poverty and backwardness of the third world can be understood as the failure of such societies to kindle some sparks of creativity as first world countries.” (p. 38). When you consider levels of poverty and backwardness to a lack of creativity, then you take away the social and political aspects of the developing nations. Most third world nations have dealt with numerous challenges like wars, prolonged droughts, diseases, poor infrastructure, amongst others. To then compare them to first-world countries that are way advanced in technology and have huge budgets is not a fair evaluation, and lack of creativity is not the reason for slowed development in third world nations.
Poverty, I feel, is the major contributing factor for the modern-day imperialism. Most underdeveloped nations have signed large scale projects with the developed countries in exchange for vested interests. Seeking Foreign Direct Investment (FDI) by third world nations is not a luxury, but a necessity for them to progress their economies, which to some people may seem as dependency on these developed countries, but to me, it is a means to achieve the much-needed development.
According to Isbister (p. 81), “The fundamental cause of imperialism lies not in the particular structure of late-nineteenth-century capitalism or a particular strategic competition, but the existence of unequal power.” These dynamics in power are the reason why influential nations took control of the less powerful nations.