The world has a long history of colonialism, with most of the world today being shaped by colonialism. At a point in time, most countries were divided into two categories: colonies, or empires. To be an empire, it was essential to have numerous colonies, as this was a way to show power and obtain raw resources. However, the modern world now has changed significantly, or it has claimed it has. Although colonialism of the past does not exist anymore, the effects of colonialism are still present and affect many countries to this day. This can be seen through the underdevelopment of many third-world countries in Latin America and Sub-Saharan Africa, which were formally colonies. The colonizers are still involved in these countries’ economy and
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Not all solutions that are proposed are helpful, but they show that there is a general consensus to better the modern world and the effects of colonialism, which are still very strong. There are many theories that suggest why so many third-world nations are underdeveloped. Although some of these interpretations are insightful, they fail to recognize the historical significance of colonialism in shaping a country. These theories would include the “cultural explanation”, and the “modernization theory”. The cultural explanation blames the underdevelopment of countries on their “lazy culture”. This theory is a prime example of white supremacy, as it is racist and describes only one proper way to function and grow- the white European way. The Modernization Theory does a better job of explaining the growth of a country, but still cites only one way to develop properly and seems subtly racist. Again, it is the way in which Europe, and North America have developed, as well as China. It shows of how a country can have fast development through …show more content…
In 1980, Jeffery Sachs introduced the concept of “economic shock therapy”. Sachs proposed that quick growth would be possible through shock therapy of the economy. This would mean quick privatization, along with trade liberalization. Sachs also wanted the International Monetary Fund (IMF), and World Bank (WB) to provide aid to poor, underdeveloped countries. Although this sounds like an adequate solution that could solve the problem of underdevelopment, scholars like William Easterly beg to differ. Easterly describes Sachs’ theory as “White Man’s Burden”. Aid in this sense is a new form of imperialism because it continues to dictate the way in which an economy can grow. This theory also doesn’t have good examples of it being effective. Countries who have experienced economic shock therapy include: Poland, Mongolia, and Bolivia. The Spanish film, Even the Rain, clearly portrayed how the quick privatization of water was not helpful to the government and economy of Bolivia. The privatization of water created more conflict, and did not benefit any sector of the economy, except foreign capital. This is how the IMF and WB are run by and for Western countries to make money, rather than to help third-world nations. Easterly points out how third-world countries need sustainable aid, not corrupt aid. He fails to
Not all solutions that are proposed are helpful, but they show that there is a general consensus to better the modern world and the effects of colonialism, which are still very strong. There are many theories that suggest why so many third-world nations are underdeveloped. Although some of these interpretations are insightful, they fail to recognize the historical significance of colonialism in shaping a country. These theories would include the “cultural explanation”, and the “modernization theory”. The cultural explanation blames the underdevelopment of countries on their “lazy culture”. This theory is a prime example of white supremacy, as it is racist and describes only one proper way to function and grow- the white European way. The Modernization Theory does a better job of explaining the growth of a country, but still cites only one way to develop properly and seems subtly racist. Again, it is the way in which Europe, and North America have developed, as well as China. It shows of how a country can have fast development through …show more content…
In 1980, Jeffery Sachs introduced the concept of “economic shock therapy”. Sachs proposed that quick growth would be possible through shock therapy of the economy. This would mean quick privatization, along with trade liberalization. Sachs also wanted the International Monetary Fund (IMF), and World Bank (WB) to provide aid to poor, underdeveloped countries. Although this sounds like an adequate solution that could solve the problem of underdevelopment, scholars like William Easterly beg to differ. Easterly describes Sachs’ theory as “White Man’s Burden”. Aid in this sense is a new form of imperialism because it continues to dictate the way in which an economy can grow. This theory also doesn’t have good examples of it being effective. Countries who have experienced economic shock therapy include: Poland, Mongolia, and Bolivia. The Spanish film, Even the Rain, clearly portrayed how the quick privatization of water was not helpful to the government and economy of Bolivia. The privatization of water created more conflict, and did not benefit any sector of the economy, except foreign capital. This is how the IMF and WB are run by and for Western countries to make money, rather than to help third-world nations. Easterly points out how third-world countries need sustainable aid, not corrupt aid. He fails to