Trusted by millions of Kenyans
LoginRegister
Study resources on Kenyaplex

Get ready-made curriculum aligned revision materials

Exam papers, notes, holiday assignments and topical questions – all aligned to the Kenyan curriculum.

Browse exam papers
Or go directly to:
Class notes Holiday assignments Topical questions Other resources

Describe the Neo-Marxist theory of economic development

Describe the Neo-Marxist theory of economic development

Answers

Abdullahi
Neo-Marxist theory of economic development extends the Malthusian theory to encompass the international dimension of the role of capital in economic development. It maintains that the international capitalist system which has led to great inequality between the rich and the poor countries has increased the dependency of the less developing countries on the industrial capitalist countries for their basic economic and development roles.

Perversely, this has resulted a large transfer of capital and other resources from the poor to the rich countries. Thus, this phenomenon of international dependency is the major cause of worsening inequalities and resulting hunger and disease in many LDCs.

In order to alleviate these problems confronting the LDCs, it is necessary in view of Neo -Marxist theory to restructure the world capitalist system on a major scale.

The restructuring would transform the relationship between the rich and the poor countries and could well promote independency and self-reliance development efforts based on upon the LDCs own based resource endowment, market and technology.
Dullayo answered the question on May 12, 2018 at 09:56

Answer Attachments

Next: Under network security infrastructure, what do you understand by term Vulnerability (or Weakness)?

Previous: Discuss FIVE causes of poverty in Less developing countries.

View more Economics Questions and Answers  |  Return to Questions Index

Exams With Marking Schemes

Related Questions