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Economic development since the Second World war - (Developed vs. Developing World)

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  1. Literature review
    1. The effects of Second World War on the socio-cultural aspects
    2. The economic effects of the Second World War
  2. The economic development since World War II
    1. Developed countries
    2. Under-developed world

After the Second World War, there have been significant changes in all aspects of life. The increasing concerns about the economic development caught much attention of economists. It is during this era that the European colonization ended and the world seemed to be divided into two parts whereby the European and other western countries were referred to as the developed countries whereas their former colonies were named underdeveloped countries. It is in this background that this paper aims to discuss the economic development after the Second World War.

[...] These two countries were in fierce competition since the Second World War and continued to until the time they engaged in the Cold War. This war was referred to as cold because the United States and the Soviet Union did not do it openly and declare the war against each other (Hormats & Glaeser., 2011) .They instead focused on powers in all aspects of politics and economy. For instance, during the Cold War, there has been the increase in espionage on both sides and numerous proxy wars that involved their allies (Balogh, 2010). [...]


[...] The economic development since World War II Developed countries Different reports pointed out that between 1948 and 1970 the international traded saw an unprecedented rapid expansion. As a matter of fact, there has been a remarkable growth in the total volume of merchandise exports from non-communists countries (Hormats & Glaeser., 2011). It is argued by many commentators that the end of the World War II marked a turning point in all aspects of life most particularly in the economy (Terborgh, 2003). [...]


[...] This has contributed a lot to the development of this country and created many jobs. The United States, on the other hand, invested a lot in recruiting scientists from all over the world most particularly from its former enemy countries including Germany (Balogh, 2010). This played a significant role in creating the nuclear weapons and other more advanced and sophisticated war machines (Welshman, 2014). The United States also saw its medicine developing that since the World War II it is among the top countries that have achieved advanced medicine technology. [...]


[...] (1st ed.). London: London School of Economics. Retrieved from http://www.lse.ac.uk/economicHistory/pdf/wp7803.pdf. Todaro, M. & Smith, S. (2015). Economic development (12th ed.). Washington: George Washington University. Welshman, J. (2014). Book review: Sue Wheat croft Worth Saving: Disabled Children during the Second World War. [...]


[...] Therefore, the above-mentioned factors increase the transmission rate of HIV (Welshman, 2014). Furthermore, the fact that the underdeveloped countries do not have sufficient means of producing drugs makes the matter worse (Sawers, Stillwaggon, & Hertz, 2008). In fact, these countries have to rely on international medical assistance or to buy the ARVs in order to help their population that is suffering from HIV (Digas & Rozenberg, 2010). In conclusion, the findings of this paper indicate that there is a great difference between the period before the Second World War II and the post-world war period. [...]

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