We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

1) Do you think market economy contributes to the development of a nation? Clearly explain your position and HOW it does or does not make such contribution. Market economy and development of a nation go hand in hand. You can’t have one without the other. Take a look at any country from the United States to Nigeria. Each nation’s development depends on their market economy. Then take a look further into how wealth in distributed within a nation. This further explains that those that have wealth live at a higher standard of living.

There would be no reason to drink muddy, unsanitize water if there was money coming into the country. Education also plays a part in the development of a nation. You have to know better to do better. Lack of money hinders education. My mother did not finish high school because she had to contribute to the household. This then becomes a circle of disaster. 2) The Internet has penetrated many aspects of business and culture in developed countries, but it is barely available in many poor countries.


Do you think this technology will widen the economic development gap between rich and poor countries? Why or why not? Is there a way for developing countries to use such technologies as tools for economic development? (From Talk It Over, page 134) Technology will widen the economic gap between the rich and poor countries. There is an investment in infrastructure that is required to use technology. There are costs involved with fiber optic lines, satellite, computers, cell phone, etc. Those countries that have the money to invest in technology are the only countries in the game.

If a developed foreign country see an interest, or a resource that can be used they will sometimes invest for the benefits. If an undeveloped country doesn’t have any resources that can be leveraged there is no hope for them. An undeveloped country is at a huge disadvantage if they do not have the tools to participate. I see the gap widening. If a country like has all the technology to compete the sky is the limit. If you doubt this take a look and India and China. They were not always prosperous countries. They have used technology for economic development. Other developing nations can follow their lead.

Share this Post!