Why have the 1980s been described as a lost decade in terms of development? Custom Essay

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• Cold war- capitalism vs communism 1945
• Marshall plan 1948
• Bretton woods 1945
• Truman’s speech 1949- point 4 wiki
• Modernisation/Rostow growth theory- describe/criticism-HOW LED TO IMPASSE /LOST DECADE
• Dependency- describe/criticism- HOW LED TO IMPASSE/LOST DECADE
• Explain how both theories did not match reality (see below) All examples made clear that the third world was too heterogeneous to be covered by just one theory (shurmann journal)
• Third world countries debt led growth (give example)
• Realization of the gap between rich and poor (due to ???)
• Developing countries creating short term policies to keep heads above water (no long term developing strategy) (give example)
e.g. Africa, how countries became preoccupied with debt management (payment of past loans and interest or negotiations of debt rescheduling and restructuring) rather than economic growth and development; how countries were forced to slash budgets (with health, education and agriculture suffering most due to political and policy bias), etc…??
• Economic growth created catastrophic effects to environment (give example)
• Difficulties accessing global market (Give example)
link this with Bretton Woods Institutions and their key policies in relation to development during the 1980s
• Successes of Asian Tiger economies (examples)
• Advancement of alternative perspectives (E.G. mentioning names and brief overview of the theories)
Critique of central role of the state in dev theories arose
Shuurman believes globalization may have already taken place and we are now in a time of de-globalisation
Globalisation debates: agree there is a decreasing economic, political and cultural importance of the state AND the role of the state is being hollowed out from above and below
POLITICAL (from above): increasing importance of international political organisations which interefere
POLITICAL (from below): hollowed out from below by the growing phenomenon of local government – seen as the example of good governance.
ECONOMICALLY: state disappearing through privatization supported by deregulation
CULTURALLY: National identities are disappearing, making way for a more cosmopolitanism and/or ehnic/regional/religious identities.
THEREFORE the state always played centre, it is not hard to imagine that the globalization debate has had on developing studies.

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