Lecture 2 The Causes of Poverty and Underdevelopment

Disparities of wealth The richest 1% of people own nearly half of all of the wealth on the planet. The richest 10% of people claim 86% of global wealth. Gap in average incomes between developed and underdeveloped countries 1820: 3 to : 35 to : 44 to : 72 to 1

Theories of Poverty 1. Climatic theory Baron de Montesquieu ( ), L'esprit des Lois (1748) 2. Classical economics Adam Smith ( ). The Wealth of Nations 3. Population theory Thomas Malthus ( ). The Principles of Political Economy (1820). 4. The division between labour and capital Karl Marx ( ). Capital (1867). 5. Imperialism and the ‘Drain of Wealth.’ Dadabhai Naoroji ( ). Poverty and Un-British Rule in India (1901) 5. The Capitalist Ethos Max Weber ( ). The Protestant Ethic and the Spirit of Capitalism (1905) 6. Dependency theory André Gunder Frank ( ). Capitalism and Underdevelopment in Latin America (1967). 7. Globalisation and Cultural imperialism Ivan Illich ( ). Celebration of Awareness: A Call for Institutional Revolution (1971).

1. Climatic theory Baron de Montesquieu ( ), L'esprit des Lois (1748)

2. Classical economics Adam Smith ( ). The Wealth of Nations

3. Population theory Thomas Malthus ( ). The Principles of Political Economy (1820)

4. The division between labour and capital Karl Marx ( ). Capital (1867)

5. Imperialism and the ‘Drain of Wealth.’ Dadabhai Naoroji ( ) Poverty and Un-British Rule in India (1901)

5. The Capitalist Ethos Max Weber ( ). The Protestant Ethic and the Spirit of Capitalism (1905)

André Gunder Frank ( ). Capitalism and Underdevelopment in Latin America (1967) 6. Dependency theory

7. Globalisation and cultural imperialism Ivan Illich ( ) Celebration of Awareness: A Call for Institutional Revolution (1971)

Seattle 1999

Anti-globalisation protest Seattle 1999

Seattle 1999

Occupy Wall Street protest 2011