Despite many important advances since the “Bretton Woods” agreement, the state of Third World development remains extremely unsatisfactory. About a billion people live in extreme poverty and more than 800 million do not get adequate nutrition. Third World Debt looms large on the horizons of most underdeveloped nations and development continues to benefit the Third World elites, the developed nations, and their multinational corporations. The North-South divide continues to widen with very little “tricking down” to the poor majority in many nations. It is strongly believed that one-third of the world’s poor are getting poorer. The conventional approach to development theory and practice, focusing on economic growth, investment, trade and free markets continues to benefit developed nations. Even in nations where free trade and markets have spurred growth, the net results of globalization have not reached the majority. Globalization defined as the “economic, social, political and environmental integration of nations” creates some major imbalances in a world system increasingly based on liberal market economies. Ultimately, the IMF-WTO corporate globalization model has failed to deliver for developing countries, severely punishing those least capable of protecting themselves – the billions living on $ 400 million annually. Market access is only useful to countries at a stage of development that allows for their engagement in world markets, in a manner that promotes improved standards of living for their populations. The promise of market access is a distraction that has served to create a myth of prosperity. This research seeks to raise issues regarding the impact of globalization on North-South imbalances highlighting the crucial gaps in the globalization process. Initially, the research outlines the parameters and theories surrounding the globalization process and then progresses on to demonstrate the imbalances of the global system, highlighting the key areas of impact that adversely affect the development of Southern nations. Using India’s economic liberalization as a case in point, this thesis attempts to unveil the growing myth of prosperity that is being propagated in relation to the issues of globalization and the South. Finally, the thesis attempts to draw pertinent theoretical lessons that would contribute towards a better understanding of the effects of globalization on the South. / http://proxy.library.adelaide.edu.au/login?url= http://library.adelaide.edu.au/cgi-bin/Pwebrecon.cgi?BBID=1311650 / Thesis (Ph.D.) -- University of Adelaide, School of History and Politics, 2008
| Identifer | oai:union.ndltd.org:ADTP/280298 |
| Date | January 2008 |
| Creators | Thacker, Viraj P. |
| Source Sets | Australiasian Digital Theses Program |
| Detected Language | English |
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