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Critical Assessment on IMF Paper
Member rating: No Rating | Words: | Submitted: Tue Oct 19 2004
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Critical Assessment on IMF Paper The importance of federalism in spreading economic development and its benefits has been almost entirely overlooked. By and large, what has passed for national development in the Third World is not national at all, but rather concentrated in a single metropolitan area, usually that of the capital. This area not only has monopolized the infusion of new resources to the country but has managed to drain the countryside of a major share of such resources as existed there prior to independence1. According to Purfield, the resultant impoverishment of the countryside without appreciable progress in the metropolis has become a feature of Third World national economies which reflects a vicious circle. As the countryside becomes impoverished, its people migrate to the metropolis in search of opportunity or, in most cases, sheer survival. In their masses, they overwhelm the metropolis and transform it into what has come to...
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