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Theories of Political Development consider polities of the Third World from underdevelopment to development. The process which facilitates their efforts to achieve their social ends is 'development'. The factors which hinder them in this direction are responsible for their 'underdevelopment'. For this the Marxist and neo-Marxist scholars have advanced 'dependency theory' to explain the phenomenon of underdevelopment. Liberal and Marxist [...]

Deficit financing is today a major instrument in the hands of governments, both in developed and under-developed countries to finance a warrior to carry, out a programme of economic development. In the advanced private enterprise countries, deficit financing is resorted to ensure continued high levels of economic activity and to offset the occasional tendencies to a decline in private spending, [...]

While it would be very difficult to locate a representative under-developed country, it is much easier to bring out some fundamental characteristics common to under-developed countries, which are considered below: (i) Low Per Capita Income: The per capita income in under-developed countries is extremely low. The average annual income in under-developed countries like India, Sri Lanka and Pakistan is between [...]

Listing out ideas is the first step in writing a good composition. The more original the idea, the more different and interesting would be your composition, from the general run of the mill stuff. This however requires extensive reading of books and newspapers. You should therefore inculcate this good habit of reading, so that besides putting across new ideas, you [...]