Underdeveloped countries are defined as nations which, comparative to others, lacks industrialization, infrastructure, developed agriculture & natural resources, and suffers from a low per capita income as a result. The question of the wealth of nations has been at the center of economics for over two centuries and there is now increasing focus, both in academic and policy realms to improve the conditions from all angles.
Without Industrialization, there are few jobs or exportable goods without farming or mining. Infrastructure plays a huge role in the global markets and is necessary to fully develop, much less compete in the global financial games. Developing agriculture and natural resources is a large stepping stone in the journey of national growth. Per capita income increases with additions of exportable goods, be they physical or technological. Consider for a moment, India’s per capita income jump when the larger companies started pouring their dollars into ‘cheaper’ labor forces. This is one way that the private sectors can assist impoverished or underdeveloped countries to grow.
There are nearly 200 underdeveloped countries in our world today. The list of those that fall into the classification of being underdeveloped is not an indicator of how far they have to go before being reclassified as a developed country. A good number on the list of underdeveloped countries are countries that are developing but have not yet caught up to the ‘big’ players on the field, while others are underdeveloped with no signs of them improving their conditions.
Developing countries are those still listed as underdeveloped countries that are steadily improving their conditions and are building their niches in the world market. As the world changes, it takes some longer to get acquainted with the changes so, they will all either catch up, or be the ones laughing at us when technologies start to fail. Governments and peoples that recognize the needs of their country and work to meet them are the ones most likely to succeed in their efforts to fully develop their countries to their potential.
Without Industrialization, there are few jobs or exportable goods without farming or mining. Infrastructure plays a huge role in the global markets and is necessary to fully develop, much less compete in the global financial games. Developing agriculture and natural resources is a large stepping stone in the journey of national growth. Per capita income increases with additions of exportable goods, be they physical or technological. Consider for a moment, India’s per capita income jump when the larger companies started pouring their dollars into ‘cheaper’ labor forces. This is one way that the private sectors can assist impoverished or underdeveloped countries to grow.
There are nearly 200 underdeveloped countries in our world today. The list of those that fall into the classification of being underdeveloped is not an indicator of how far they have to go before being reclassified as a developed country. A good number on the list of underdeveloped countries are countries that are developing but have not yet caught up to the ‘big’ players on the field, while others are underdeveloped with no signs of them improving their conditions.
Developing countries are those still listed as underdeveloped countries that are steadily improving their conditions and are building their niches in the world market. As the world changes, it takes some longer to get acquainted with the changes so, they will all either catch up, or be the ones laughing at us when technologies start to fail. Governments and peoples that recognize the needs of their country and work to meet them are the ones most likely to succeed in their efforts to fully develop their countries to their potential.
