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Economy

Third World Nations

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  1. Third World Nations

Post-war reconstruction and development in third world countries led to numerous challenges. After the war, the population was growing rapidly, which led to a low level of production of food. As a result, poverty increased, and there were high-income inequalities as most wealth belonged to the rich. There were increased prices for commodities which led to the deterioration of the economy in these nations. Finances for developments were also not available, which led to slow economic development. According to Nehru’s first speech, it is clear that these nations never agreed on policies and structures of government with each other. Despite the end of the war, the nations did not have peaceful relations with each other. These challenges are still evident today globally though in different lengths and scopes.

The main fundamental feature of democracy in postwar Western Europe was the remarkable uniformity of the political structures that helped in shaping the economy of western Europe. The author explains how intervention and control of production and ownership helped in shaping the economy. Just as the western European democracies, the government political structures improved the nation’s economies.

 

 

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