Paper Topic:
Problems of Third World Countries
Problems of Third World Countries Third World countries by definition are the undeveloped poorer counties Also called developing nations , these countries face enormous socio-economic problems , more than the first world or the industrialized countries and the second world or the communist block countries . The Third World countries is defined countries as those undeveloped or developing nations that were economically disadvantaged and therefore dependent on the First World nations for financial , scientific , and technical assistance The problem of the lack The most common problems faced by the Third World countries is
the lack of capital , knowledge , initiative , entrepreneurship , and of all those assets that had generated economic growth in the modern , developed nations . According to Magnus Morner and Thommy Svenson (1991 ) the concept of poverty and development problems in the Third World is influenced by Walt Rastow 's Stages of Economic Growth in which economic development is seen through the crucial `take-off phase characterized by a rising savings ratio and industrialization , up to final `self-sustained ' stage of mass consumption , when basic needs have been satisfied (Morner Svenson , 10 . In effect , the problem of the Third World is seen as the result of lack of capital , ignorance and religious delusions , primitive institutions and thinking , corruption and bad leadership , and they needed assistance and aid from a developed to achieved take-off (Morner Svenson ,
. 10
The problem of serious poverty
The most acute problem faced by the Third World today is the serious poverty which are causing starvation and hunger to many people...
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