Summary of Industrial Convergence, Globalization, and the Persistence of the North-South Divide by Arrighi, G,. Silver, J, B,. and Brewer, D, B,. (2003)

1422 Words Jan 30th, 2011 6 Pages
Summary

Arrighi,G,. Silver,J,B,. and Brewer,D,B,. 2003. Industrial Convergence, Globalization, and the Persistence of the North-South Divide. Studies in Comparative International Development. p.3-31

Through the use of descriptive and comparative analysis, the authors intend on demonstrating that the convergence of the industrialization gap was not accompanied by a convergence in the income levels gap between former First World and Third World countries. Thus, the North-South divide still exists. Through economic models, the persistence of the North-South income divide is explained. Simultaneously, the authors discuss the development project and globalization project and how the shifts occurred. Additionally, the reproduction of the
…show more content…
This is completed by comparing changes in industrialization and income over two periods (1960-1980 and 1980-1998/9) in a particular country. The main findings were that for pre-1980, the industrialization gap was narrowed. This was due to de-industrialization in the First World countries and not because of industrialization of the Third World countries. Conversely, the income gap was not narrowed. For post-1980, the new environment was unfavourable to the success of the efforts as the industrialization gap was narrowed but the income gap increasingly diverged between First and Third World and among Third World countries. The authors conclude the subsection by stating that the discrepancy between convergence in industrialization and the lack of income convergence between First World countries and Third World countries in both periods is a result of no positive correlation between industrial and income performance (Arrighi,G,. et al,.2003. p.15). To explain the recurring failure of industrialization in achieving the development efforts objective, economic development models were utilized in the third subsection of the paper. Firstly, according to Joseph Schumpeter’s creative destruction theory, major profit-oriented innovations are the main impulses that generate and sustain competitive pressures in a capitalist system. This theory further elucidates that the occurrence of innovations under capitalism “increasingly revolutionizes the

Related Documents