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What is wrong with the concept of development? - Coggle Diagram
What is wrong with the concept of development?
Who determines their nature?
Development is often think about from a WEIRD point of view
Western Educated Industrialized, Rich, and Democratic
These countries, occupies a priviliged space in the policymaking scenario
What is the problem?
they often not recognize that all develpoing countries are not alike, and each one needs different strategies to achieve specific goals.
Examples where multilateral organizations failed to see this were: The ressetlement projects in Kenya in 2007, the failed investments in Lesotho's agricultural industry...
Multilateral organizations like the IMF, WB, UN, OECD, etc.
what is the problem?
Many multilateral initiatives have end in misguided projects that failed poor people
Why does it happen?
monovision and self-centered perspective to approach the problem within the institution, ignoring each country's political and economic context
How can we improve it?
All major investment programs should seek to solve some elements in big structural problems that underpin poverty.
Set priorities on critical problems which would cause the bigger impact
This way you may solve some of the most pressing problems
Some countries that adopted this approach have experienced positive results: China, Korea, Chile, Indonesia.
Export oriented strategies, new investment banks, trade liberalization
Consider the environmental impact and sustainability
Invest in climate change programs
Accountanility, transparency, and anti-corruption mechanisms