The Global Pursuit Of Economic Development Since The End...

In Global Political Economy, Chapter 11 discusses â€Å"the global pursuit of economic development since the end of the Second World War† (219). In a nutshell, this analysis involves the account and summary of some of the information that has been previously presented in earlier chapters of this book. Mainly, the process of industrialization in Great Britain as well as the United States is noted in the introduction to the chapter. Afterwards, the authors proceed to define the term ‘development’ using quotes and statements from a few other authors. But, the central idea of development, no matter how the definition may be worded, takes into account the themes of process and condition, or the change of condition. In addition, when regarding the immediate era after the war, development relied on economic growth of a country measured by its Gross National Product (GNP) (221). The Gross National Product, according to Encyclopedia Britannica, is the â€Å"total market value of the final goods and services produced by a nation’s economy during a specific period of time (usually a year), computed before allowance is made for the depreciation or consumption of capital used in the process of production† (Encyclopedia Britannica). The timeline of development for countries worldwide after WWII is then clarified. Many nations were considered ‘underdeveloped’, ‘backward’, or most commonly ‘Third World’. Eventually, countries in the southern hemisphere became known as â€Å"the Global South†, identifyingShow MoreRelatedThe End Of The Second World War Essay1743 Words   |  7 PagesAfter the end of the Second World War Canada was not a major power but enjoyed international recognition and influence on international issues. Due to this position, it was classified as a middle power whose influence could be leveraged in solving international disputes (Paris, 1997). 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