Modernization And Neoliberalism Economic Status And Growth

There are many faces to development- both in how it is defined and in what constitutes it. In ‘Liberating the World from Development’, Sachs writes â€Å"The desire for equity is largely fixed on development-as-growth† (22). This is to say that development as a concept is conventionally hinged upon economic status and growth. This core assumption is present in the primary models of development, modernization and neoliberalism, both of which in turn offer their own implications and consequences. It is these consequences that inspire Sachs, and many others, to seek out a more comprehensive definition and approach to development. As was previously stated, the two most prevalent theoretical models of development are modernization and neoliberalism. These ideologies are both centered on the principle of development-as-growth with growth, in this sense, equating to economic advancement. To be more specific, these two philosophies are heavily reliant on a westernized sta ndard of market and economy, with capitalism existing at the heart of their philosophies. The result of this is a weighty emphasis on participation and competition in a global economy and a Euro-Atlantic model of ‘development’. Modernization in particular approaches this focus on competition in a global economy through the promotion of trade specialization. The intent of this is to allow countries to gain an edge in the market by concentrating their efforts on one primary export, such that they may become largerShow MoreRelatedWestern Dominance And Its Effects On The Global Economy Essay1590 Words   |  7 PagesAlthough today these colonial empires have diminished somewhat or entirely, the neoliberal policies and institutions that were put in place in the nineteen seventies continue to perpetuate the same power and economic inequalities that had been felt by colonies, on the current global economy. 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