This article surveys the literature on the question, “Why are some countries developed and others not?” It is well known that the fortunes of nations have changed over long periods. China and India were the most advanced countries in the pre-modern world and till the eighteenth century. Western Europe, led by the U.K., and her offshoots, led by the U.S.A., overtook the advanced countries of Asia in the nineteenth century. The main reasons behind this reversal of fortunes are found to be Western Europe’s superiority in violence (gun powder technology), deceit and in open ocean navigation which gave them access and liberty to use the enormous wealth and resources of their colonies. However, a complete list of factors contributing to growth and development includes geographical and historical conditions, political economy, military strength, and its copious use along with cruelty, cunning, and deception, wisdom and foresight of the elite, exploitation of international resources including knowledge and technology, manipulation of international trade, investments in human capital, skills, science, technology, infrastructure and creation of right institutions and incentives for productive activity and disciplined hard work by the labor force.
Sign In to view the complete article.
Visiting for the first time, click Register.
Why should you register?1. You get notified when a new article or a new issue is available.
2. You can read complete articles.
3. You can write reviews and comments on each article.
4. It helps us to improve and provide you with the latest information.