Why you shouldn’t adore the West?
The capitalist countries are developed & they have modern infrastructure at place. But it all comes at the cost of the third world countries.
The advanced countries of today had exploited their colonial territories for many years. Their monopolistic access to raw materials in the colonial territories & later on selling the same as finished products in the colonial territories allowed them to amass huge capital.
Present-day developing countries lack in such resources & opportunities.
The development in the West is the product of the exploitation of the masses in the East. The capitalism in the West had its roots in the imperialism.
The reason behind underdevelopment of the third world :
Centre – Periphery Model: it was proposed by Andre G. Frank.
As per the model, the centre represents the advanced economies & peripheries form the third world.
Centre : Capitalist economies
Peripheries : Third world economies
“Centre & periphery are linked in a manner that development of the centre leads to underdevelopment of the periphery. “
Still, the third world counties act as the exporter of raw material at cheap price & importer of the finished products from the West. This is termed as neo-colonialism.
The Brain-drain: the problem of brain-drain is also associated with the market economy.
A person who has received subsidised education at the cost of taxpayers money & has sharpened his skills & enhanced his knowledge accepts to serve advanced economies in want of better opportunities which won’t be present in the developing & underdeveloped economies (*the law of Demand & Supply).
It further makes it difficult to technologically advance the nation due to its inability to retain the HR talent. Hence, leads to monopoly of advanced economies in technology & innovation.
With Great Love,
Er. Amit Yadav