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8 Cards in this Set
- Front
- Back
Colonial Legacy |
Most developing countries were once colonies of Europe or were once dominated by European or other powers. |
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Lingering Effect |
Institutions created during the colonial period often had pernicious effects on development that, in many cases, have persisted to the present day. |
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Wealth Extractors more than Wealth Creators |
Colonial Era Institutions more favored extractors of wealth rather than creators of wealth, harming development then and now. |
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Colonial History |
Not only were resources stolen by colonial powers but colonial powers also determined whether or not meaningful investments could have been made in these by (or in) these colonies. |
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Inequality Reinforcement |
Development facilitating/inhibiting institutions tend to have a very long life span so long as there are resources to plunder. |
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Kelptocratic Institutions |
These were extractive institutions which functioned at the expense of ones that encouraged productive effort. |
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Economical and Political Structure |
Lasting colonial presence in political governance, new practices of private property ownership, personal taxation and payment by money rather than kind. |
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External Dependence |
Developing countries are less organized in international relations which can set adverse consequences for development. |