To perform a critical assessment of Easterly’s assertion that: “The conventional approach to economic development, to making poor countries rich, is based on a technocratic illusion: the belief that poverty is a purely technical problem amenable to technical solutions [and that it] ignores… the real cause of poverty – the unchecked power of the state,” one must dissect Easterly’s comment into two parts: 1) the wrongs of the technocratic solution and 2) the viability of the argument that it is the lack of rights that is so burdensome and evocative of poverty. This short response will achieve and validate both claims by considering the premises and effects of both the technocratic illusion and the power of giving power back to the people, and
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These debts are largely owed not only to the Western banks and international organizations (like the World Bank) but also now to investments bank who have bought up the debt with an intent to sue to collect repayment – thereby getting fat off the backs of the poor (as the rest of the West has done). This short response will address critically the two main causes of this growing debt: 1) the oil crisis led by OPEC which was led by Saudi Arabia and 2) Reagan’s interest rate hikes as well as effects this disaster has had on the developing countries and the global south …show more content…
The IMF and World Bank ultimately imposed structural adjustment plants that involved heavy austerity, meaning that these countries would tighten the belt on their own government spending. As a consequence, governments had to 1) cut access to public goods (like health, education, and infrastructure), 2) privatize and sell off government companies/assets, 3) cut imports and increase exports, and generally make conditions even worse for the country’s citizens. As a consequence, oppression and life generally worsened for everyone, leading to massive unhappiness and dissatisfaction with the government as well as real changes in the quality of poverty (all
These debts are largely owed not only to the Western banks and international organizations (like the World Bank) but also now to investments bank who have bought up the debt with an intent to sue to collect repayment – thereby getting fat off the backs of the poor (as the rest of the West has done). This short response will address critically the two main causes of this growing debt: 1) the oil crisis led by OPEC which was led by Saudi Arabia and 2) Reagan’s interest rate hikes as well as effects this disaster has had on the developing countries and the global south …show more content…
The IMF and World Bank ultimately imposed structural adjustment plants that involved heavy austerity, meaning that these countries would tighten the belt on their own government spending. As a consequence, governments had to 1) cut access to public goods (like health, education, and infrastructure), 2) privatize and sell off government companies/assets, 3) cut imports and increase exports, and generally make conditions even worse for the country’s citizens. As a consequence, oppression and life generally worsened for everyone, leading to massive unhappiness and dissatisfaction with the government as well as real changes in the quality of poverty (all