Stages of Development, Cultural Context and the Problem of International Interdependence

If we pass review on the debate over development policy since the Second World War, one conspicuous aspect is the large number of misconceptions which have been overtaken by later developments. New concepts arise like waves and are widely discussed, only to disappear again in the end. Let us not forget that development in the underdeveloped regions was once seen as a problem of capital provision. It was generally believed that any level of development could be achieved as long as the necessary capital was correctly estimated and appropriated accordingly. It was only natural to present calculations on capital need as if they were a representation of the world’s welfare in a few numbers — though at an incomprehensible order of magnitude.