The concept of "underdevelopment" refers to the persistent economic disparities and poverty that exist between developed and developing countries. The theory of "development of underdevelopment" is a Marxist-inspired explanation for these disparities, which suggests that they are the result of a process of capitalist expansion and imperialism.
According to this theory, developed countries (such as the United States and Western European countries) have achieved their wealth and prosperity through the exploitation of the natural resources and labor of poorer, developing countries. This exploitation has occurred through various means, including colonialism, neocolonialism, and the imposition of structural adjustment programs by international financial institutions.
The theory of development of underdevelopment suggests that the wealth and prosperity of developed countries has been built on the systematic impoverishment of developing countries. This process has been fueled by capitalist expansion and the exploitation of resources and labor in these countries. As developed countries have grown wealthier, they have also been able to exert greater influence on the global economy, often to the detriment of developing countries.
One example of this process is the way in which developed countries have historically controlled the global trade system through their dominance of international organizations such as the World Trade Organization. This has allowed them to shape the rules of international trade in ways that have benefited their own industries, while imposing tariffs and other barriers on developing countries that have made it difficult for them to access developed country markets.
Another example is the way in which developed countries have used their economic and political power to shape the policies of international financial institutions such as the International Monetary Fund (IMF) and the World Bank. These institutions have often imposed harsh economic policies on developing countries, including the privatization of state-owned enterprises and the liberalization of trade and investment, which have had negative impacts on the economies of these countries.
In summary, the development of underdevelopment is a theory that explains the persistent economic disparities between developed and developing countries as the result of a process of capitalist expansion and imperialism. It suggests that the wealth and prosperity of developed countries has been built on the exploitation of the resources and labor of poorer, developing countries, and that this exploitation has been facilitated by the economic and political power of these countries in the global economy.
