Underdevelopment

Bretton Woods and Underdevelopment of the Post-Colonial States of the Global South (Published)

The world economic depression that hit countries of the world and the inability of the super power nations, to salvage the economic predicaments of course necessitated the demand for a set of multi-lateral institutions to provide a safety net and to structure the economy of the post-colonial states of the global south. With this vision at heart, a meeting held in Bretton Woods, New Hampshire, in July 1944 spearheaded by the United State and United Kingdom founded the IMF (International Monetary Fund), World Bank, and the ITO (International Trade Organization) among others. Thus, these institutions are referred to as the Bretton Woods Institutions. The Bretton Woods Institutions are cogent institutions that have been involved in economic development in post-colonial states. However, there are controversies regarding whether they (Bretton Woods) facilitate or hinder the economic prospects of post-colonial states. This paper attempts to interrogate their roles in the economic development of the global south, in relation to the unending underdevelopment of the region. The claim of it being a means of promoting growth does not seem to manifest in many post -colonial states of the south, endowed with large availability of natural resources but still lingering in abject poverty and depending on the western world for survival. The research shall also shed light on whether the liberalization efforts of these Bretton woods institutions are geared towards more development in a fine economy than one lagging behind and needing serious intervention.

Keywords: Underdevelopment, bretton woods, global south, post-colonial states

Multinational Corporations: Agents of Imperialism and Underdevelopment in Third World States: A Study of the Niger Delta Region of Nigeria (Published)

The role of Multinational Corporations in the development and underdevelopment of the less developed countries (LDCs) has provoked hot debates in recent times, considering their activities and attitudes towards the host communities of the Niger Delta region of Nigeria. Multinational Corporations seek out societies with low production costs, poor working conditions, and abundant and easily exploitable resources, where profits can be maximized and repatriated without legal constraints. It has been argued that the activities of Multinational Corporations in the less developed countries (LDCs) have somehow crushed national prospects for egalitarian and sustainable development in the host nations as against the popular view by the liberals that, Multinational Corporations are essentially agents of economic development in the host nations. This paper will therefore examine critically the role of Multinational Corporations in the development and/or underdevelopment of the less developed countries (LDCs).

Keywords: Development, Economy, Imperialism, Underdevelopment, multinational corporation

THEORETICAL APPROACHES TO THE UNDERSTANDING OF AFRICA’S POLITICS AND THE CHALLENGES OF DEVELOPMENT (Published)

The paper discusses conceptual and theoretical approaches to Africa politics such as the Modernization School; Marxian School; and the Statist School of thought vis-à-vis development and underdevelopment paradigm. The paper uncovers critical argument in various schools of thought, the variables that have caused relative development and severe-underdevelopment in Africa society at present and in the past respectively. Using Nigeria as a point of departure and melting-point, it will critically and objectively identify the problems and challenges of development in Africa and offer suggestions that will move Africa further along the path of development. The paper is aim to write-off the general belief that contemporary Africa countries are poor or underdeveloped due to neo-colonialism or imperialism that has been advance by Marxian scholars and Africa-nationalist in different underdeveloped literature. It has been a contending issue whether formal colonised Africa states can develop? Consequently, the paper concluded with statist school of thought attributing underdevelopment (poverty, unemployment, communal clashes, the rise of ethnic militia and militancy and so no) due to the problem of corruption and failure of governmental policies implementation in Africa created by Africa’s leaders. However, the paper is limited to issues of development and underdevelopment within colonised Africa states and in achieving the above objectives, the paper rely on secondary data. Moreover, Nigeria was adopted as a reference of analyses due to her population placement in the continent of Africa and one of the key players in international politics.

Keywords: Development, Marxian, Modernization, Statist And Corruption, Underdevelopment