Adequate Explanation of Socioeconomic Growth in Developing World - Assignment Example

MODERNIZATION THEORY ADEQUATELY EXPLAIN THE LEVELS OF SOCIOECONOMIC GROWTH IN THE DEVELOPING WORLD Institution Date Introduction Modernization theory is a development theory that gives explanation of the modernization process within society. It is thus a model of progression to a modern society from a pre-modern one. It focuses on a country’s internal factors assuming that granted assistance, the traditional countries can realize development just like the developed ones did. Through identification of social variables important for social development and progress of a society it also seeks to achieve an understanding of social evolution (Stockemer, & Sundström, 2014). Modernization theory thus takes into consideration the internal dynamics with a focus on cultural and social structures as well as adaptation of new and appropriate technology. This can be seen in the development of nations like china. Socio-economic growth on the other hand is the process of economic prosperity and social development in a society. It is a process that is elite-directed and concentrates power to produce growth trajectory in households’ living standards and culture. It is therefore measured by the indicators which include GDP, literacy, employment levels and life expectancy among others. Socio-economic growth can be impacted by changes that include: laws, ecological changes, new technology as well as changes that affect the physical environment (Baumgartner, Burns, & DeVille, 2014). Understanding these two terminologies, the essay thus holds the view that modernization theory adequately explains the levels of socioeconomic growth in the developing world. This essay will give an explanation as to why the above statement is correct supporting them with examples. Discussion It is correct to state that modernization theory adequately explains the levels of socioeconomic growth in the developing world. Let us decipher this, modernization theory focuses on internal factors within a country to be responsible for underdevelopment. These internal factors may include: literacy, the attitude of the populace, communication, infrastructure, agrarian structure, laws, among others. In this essay the listed internal factors will therefore be discussed one by one to understand their implication on socio-economic development of a country. In so doing, each of the factors will be evaluated in terms of their impact on the countries physical environment, ecological changes, technology and laws and subsequently their implication on a country’s GDP, literacy, employment levels and life expectancy among others. Internal factors in a country and their contribution to economic growth. Modernization theory takes into consideration the internal dynamics with a focus on cultural and social structures as well as adaptation of new and appropriate technology. This can be seen in the development of nations like china. Below is how each internal dynamic contributes to development of a country. i. Adaptation of new and appropriate technology Coccia, M. 2014 discuses; Technology affects the rate of development of any nation or society. Advancement in technology such as telecommunication will enable a country foster economic growth, improve her education levels and even address gender issues. Technology will enable growth of new ideas and thus translating in to growth of micro-entrepreneurs. Entrepreneurship spurs economic growth and therefore good for a country that needs to grow its economy. Developing countries like Nigeria and Indonesia have these micro-enterprises generating up to 38% of their GDP. Technology has heavily impacted on the growth of the currently developed countries. New technology will also enable a country exploit the natural resources at their disposal. An example is oil in Russia and even Libya. Without the adequate technology the natural resource that has a great potential to grow a countries economy remains a just potential resource. ii. Literacy and attitude of the population Knowledge is power. Literacy levels among a population of a country determine its economic growth (Fägerlind, & Saha, 2014). Illiterate people are lack information on how to improve productivity of their resources. They are ignorant of the value of the resources they have and may not be aware they have resources at their disposal. Thus a country needs to invest in cognitive development of its population. (Di Marco, 2014) explains that better educated people can formulate laws that will spur economic growth. Educated people have economic autonomy and are thus able to grow their socioeconomic standards. Attitude of a people can also determine the economic development of a society. The attitude to pick up new production patterns, adopt new technology and new agricultural practice will spur economic growth. iii. Communication and infrastructure According to (Thai, & Turkina, 2014) in a developing country like Indonesia a mobile phone technology has enabled 1.1 million traders come together to influence the market have a collective bargaining front. This has enabled them maximize on the profits thus improving their income. The implication of this can be felt in their overall living standards. Technology in communication improves the speed of service delivery, this saves on time. Time is money. The internet will offer a platform for access to external buyers expanding market for producer’s products. This would mean better sales, reduced competition and just more benefits that will spur economic growth. Infrastructure is yet another dynamic that comes in play to determine the economic growth of a country. In sub-Saharan Africa, which mostly underdeveloped, up to only 29% of roads are paved. Access to electricity is low with only a quarter of their people connected. This is a deterrent to development. The combination of this limits the access to financial resources, a recipe for economic stagnation. iv. Agrarian structure and laws Modernization theory recognizes the contribution of this dynamic, agrarian and laws on the economic growth and development. (Coccia, 2014) explains; the agrarian structure that a country has will determine its production levels. Traditional agrarian structures will translate to low production. Developed countries applied modern agrarian structures that maximize output and minimize input. The productions levels are high are thus able to spur economic growth. In most of the developing countries, for example, Sub-Sahara Africa, their economy is depended on agricultural production (Tersoo, 2014). Therefore will poor or traditional agrarian structure the rapid economic growth remains but a dream they forever will have. Agriculture is the backbone of the T GDP of most underdeveloped countries in Africa. Thus for a meaningful socio-economic growth the agrarian structure practiced in these countries must impact on the GDP massively (Chambers, 2014). It must be able to provide sustainable employments. This needs to be backed by formulation and implementation of laws that encourage good production techniques. Laws that regulate land use and thus the overall outcome can be seen to reflect in the life expectancy of the people, socio-economic status and even the overall GDP. Conclusion Modernization theory recognizes these internal factors: new technology, literacy, the attitude of the populace, communication, infrastructure, agrarian structure, laws, and their implication on socio-economic development of a country. In so doing, each of the factors have been evaluated in terms of their impact on the countries physical environment, ecological changes, technology and laws and subsequently their implication on a country’s GDP, literacy, employment levels and life expectancy among others (Giljum, et al, 2014). It is thus evident that for a country to achieve socio-economic growth, it needs to address issues around this internal dynamics. Addressing the internal dynamics will reflect on the overall socio-economic growth of the country. The development achieved as explained by modernization theory will increase the efficiency and production through comparing per capita income. The developed countries have a high Gross Domestic Production, high number of their population literate, high employment levels and high life expectancy among others. This is basically a description of a socio-economically developed country. This is so because they focused on the internal dynamics that are advanced by the modernization theory. It is therefore apparent that the modernization theory adequately explains the levels of socioeconomic growth in the developing world. Reference Stockemer, D., & Sundström, A. (2014). Modernization Theory: How to Measure and Operationalize it When Gauging Variation in Women’s Representation?. Social Indicators Research, 1-18. Giljum, S., Dittrich, M., Lieber, M., & Lutter, S. (2014). Global patterns of material flows and their socio-economic and environmental implications: a MFA study on all countries world-wide from 1980 to 2009. Resources, 3(1), 319-339. Baumgartner, T., Burns, T. R., & DeVille, P. (2014). The shaping of socio-economic systems: the application of the theory of actor-system dynamics to conflict, social power, and institutional innovation in economic life. Routledge. Chambers, R. (2014). Rural development: Putting the last first. Routledge. Di Marco, L. E. (Ed.). 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