Question

Many less developed countries today often resemble or are compared to the economies of ancient times or the Middle Ages, in particular with respect to their high levels of poverty or stagnation. Discuss an example of a country or compare two different countries, and explain some of the key social, political, and economic forces that can serve to promote the modernization of a country. What forces do you think may be necessary to bring a new “industrial revolution” to less developed areas? Are there any new forces driving the economic transformations of these countries?

Answer 1

Many less developed countries are compared to economies of the ancient economies or medieval ages as both the economies of middle ages and less developed countries have some characteristics in common.During the middle ages the growth of world economy was very slow.During the middle ages the life of Europeans were very pathetic.There was fall of Roman empire and barbarian tribes invaded Europe and destroyed the towns of Europe .The middle ages are also known as the period of dark ages because there were large number of migrants,miseries ,violence and plague in the European economy.The growth of European economy was very slow and the productivity was also very low.There were lot of immigrants and this led to overpopulation in the economy. Many less developed countries are compared to these middle ages as poverty and stagnation are some of the characteristics of the less developed economies.
Modernization refers the transition phase of less developed countries to a developed country.Moderization is a process of socio economic and cultural changes where by less developed adopt the characteristics of western or developed industrialized nations.Modernization also refers to the competition between various civilizations.Mechanisation ,industrialization and advancement of technology is required for the less developed country to transform in to a more developed country.Modernization requires increase in the manufacturing services,occupational diversification and involves occupational diversification.Modernization generally refers to the spread of the North Americsn and European thoughts to less developed countries such as South American ,African continents.
Some of the important factors required for modernization are technological advancement,lndustralization ,better trade opportunities ,good transport links are also necessary for the industrialization.Industralization was possible in Britian due to increased productivity ,business expansion.Industralization also require the agrarian economies to move in to industrialized economies