John Perkins has an extensive background in the economic field. For many years, Perkins was one of the world’s top economist. In his book entitled, Confessions of an Economic Hitman, Perkins’ describes his vast knowledge of economics by explaining the surreptitious inner workings of the American government. He proposed the idea that corporations essentially control the American government. From this idea, he coined the term “corporatocracy” which refers to an elite group consisting of corporations, banks, and governments (xii-xiii). The “corporatocracy” strives to strengthen the global empire of America (xii-xiii).…
The age of development began when President Truman popularized the term ‘development’ and reframed it in relation to ‘underdevelopment.’ Western countries pushed the development agenda across the globe by paralleling it to Christianity and justifying it in the name of fighting communism, while non-Western countries furthered the development agenda by creating economic development plans and accepting financial aid for development. In Truman’s inaugural speech, the rhetoric he uses to convey the importance of Point Four paints developing countries as desperately in need of saving by the US. To prevent starvation and scarcity in underdeveloped countries, Truman urges that the US must offer salvation by promoting modernization.…
With two thirds of the world being made up by LICs, economic growth, the increase in output of goods and services that a country produces over a period of time, visible in its GDP, is essential for the growth of a country and the closure of the ‘development gap’. It has a multiplier effect that allows funds to be spent on infrastructure such as schools and roads; allowing living conditions to climb. Both aid and trade are used as a kick-starter for this multiplier effect, but which one is more efficient? Rostow’s model of Development notes this ‘kick-off’ as essential, with aid necessary for a ‘Traditional society’ to evolve into the ‘Transitional stage’ were specialization, surpluses and infrastructure allow Industrialization, growing investment, regional growth and political change to follow in Rostow’s ‘Take Off’ stage. For most of history this guide to development has been followed, with aims to develop being linked back to the giving of aid to LICs, but what does Aid actually involve and what really is it?…
“Confessions of an economic” hitman is a short documentary based on a series of interviews given by John Perkins, a self-described “economic hitman” responsible for cheating countries across the globe out of trillions of dollars. Economic hitmen channel funds from organizations such as the World Bank, the United States Agency for International Development (USAID), and international, so-called “aid” organizations into the coffers of the ruling class. They do so by virtually any means, and do not hesitate to rig elections, use falsified financial documents, bribes, blackmail, sex. In south America, however, these economic mercenaries seem to prefer murder and assassination over all other methods.…
Seyf, A. 2001. Corruption and development: a study of conflict. Development in Practice 11: 597605.…
Uvin, P. (1998). Aiding Violence: The Development Enterprise in Rwanda. West Hartford, Connecticut: Kumarian Press.…
Nowadays, developing countries all around the world face a great amount of disillusionment. Development as proposed by the IMF and the WTO has not had the positive effect it was supposed to have. In fact, the policies preached by these international actors have in times exacerbated economic problems leading to recessions. Countries, that have achieved higher economic growth throughout the years, have achieved this, not by following the dictates of the Washington Consensus exactly, but rather by applying them in an unorthodox fashion. Nevertheless in recent years globalization has become a replacement for a sound development strategy. In his article Trading in Illusions, Dani Rodrik (2001) argues against the line of thinking promoted by these international organizations and proposes that development programs should be locally designed taking into account pressing social issues. This essay will use Rodrik’s article and numerous examples as reference to explain that the policies of liberalization do not magically solve a country’s economic problems. I will provide further examples to support Rodrik’s claim that globalization is not a development strategy. After an evaluation of these arguments, I will conclude in accordance with Rodrik 's statement that in order “to be effective, development strategies need to be tailored to prevailing domestic institutional strengths” (Rodrik, 2001: 62).…
Downs, Bruce, Bueno de Mequita, George. “Development and Democracy.” Foreign Affairs. Sept. 2005. Vol. 84 Issue 5, pp. 77-86. Ebsco Jan. 2007.…
Bernard Madoff himself stated that this had been going on since the early 1990's. Given that this confession was probably something that he did by himself at the beginning. His staff such as his accountant and auditors should have detected the scheme due to the fact that his profits were so unachievable solely on legal investment practices. As the others may have acted with Madoff he was the mastermind of the scheme and probably received majority of the money. The scheme may have started as a “short term strategy” but it quickly became a game of greed. Bernard Madoff’s goodness made it easy for him to take some many people’s money (Arvedlund, 2009). Misapplying funds through sinister means became easier than doing the actual job and helping people/companies make sound and conservative investments for their future and easy money is almost always made by unethical/illegal means (Ferrell, Fraedrich, & Ferrell, 2015).…
Abler, D. (n.d.) Notes for a Lecture on Economic conditions in developing countries. Copyright permission granted September 25, 2010.…
Development discourse and institutions tend to marginalize and disempower the Third World ‘other’. How could one resist that there is a way to ‘end poverty for women’ or ‘ensure access to education for young girls?’ The strength of development discourse comes from its power to seduce, to attract, and to please, but also to abuse, and to deceive (Peet, 1999). Development…
The documentary “The Voice of Ile a Morphil” shows a relationship between a more developed country and a less developed country. There are arguments both supporting and opposing Development Aid. Those that support development aid say that the wealth gained through a MDC/LDC relationship has a trickledown effect, and will benefit both countries; the other side of this argument is that the more developed country will take advantage of the less developed country and exploit its resources. In this particular case, it seems to have been beneficial to the less developed country, by providing funding, advice and schools. Development Aid is a good notion, but is often executed poorly, such as mining in third world countries. When done right, development aid is beneficial to both parties, and can help develop a region without unethically harming its culture.…
The concept of the developing nation is found, under one term or another, in numerous theoretical systems having diverse orientation for example, ant-imperialism and political economy.…
Kawachi, I. (2000). “Income Inequality and Health” in the book Social Epidemiology ed. by Lisa F. Berkman & Ichiro Kawachi. Oxford: Oxford University Press.…
Teenagers among the country have one thought in common, stay on top of the latest fashion trends. A fashion that has being going on for many years is to add decorations or marks to your body or face. A teenager sees them as common features to their glamour, but is it really an adornment, or has it reached the point where it is consider self mutilation. Legislation in most states restricts professional tattooing and piercings to adults older than 18 years of age. So why do teenagers still get them? Parents play an important role regarding the decision teenagers make for tattooing or piercing their bodies. Therefore families may suffer a conflict when different points of view arise. Teenagers pierce/ tattoo their bodies to attract the attention they are seeking for, whether it is for good or bad intentions.…