Resources flow from a 'periphery' of poor and underdeveloped states to a 'core' of wealthy states, enriching the latter at the expense of the former.
Poor states are impoverished and rich states are enriched by the way the poor states are intergrated with the "world system".
Poor countries supply rich countries with raw materials at a low price.
Rich countries stay rich, poor countries stay poor.
This has occured due to history of colonial expansion and how the market economy has developed.
In theory, is essentially about making trade between nations easier.
It is about freer movement of goods, resources and enterprises in a bid to always find cheaper resources, to maximise profits and efficiency.
Removal of taxes, tariffs and quotas between trading nations- less government involvement.
Represents the concept of freedom.
Restrictions on capital flows and investment.
Free market- to naturally manage itself via the pressures of market demand.
Post Development Theory- Escobar
Escobar challenged modern definitions of development.
Modern societies, despite their goal-oriented complexity and amount of labour time, do not help people to reach happiness.
Happiness may be harder to reach in a modern society than in primitive ones.
Poverty, HDI and GNP make the life of primitive or alternative societies look misleadingly dull to modern people.
The word "development" is seen as negative and that it represents imperialism.
Development critics regard non-developed societies as a cause of misery and trouble.
Development projects should be cancelled.
Refers to countries developing themselves on their own without the interference of other countries.
Development can be slow without foreign money but with less exploitation.
E.g. Excellent Development- Rural Kenya