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Exogenous underdevelopment pattern

Listed author(s):
  • Salvatore Michele De Marco

The main dynamics of capitalism is the creation of overproduction in order to search for an internal and foreign market outlet. While increasing the overproduction, both the expansion process and the internationalization of consumption raise. The context just described leads to think about the existence of rich and emerging economies producing an excess of supply compared with their internal demand (net supply) that must be allocated to the poor economies showing an excess of demand compared with their internal supply (net demand). We are, after all, in the compensating structure of the world economy, where the poor countries are setting against the rich and emerging countries; these last two are in competition with each other. Besides, the poor countries absorb the surplus of the rich and emerging ones. The assertion of monetarism, in the last decades, encouraging the market outlets abroad to the detriment of the outlets towards the public sector, leads to stress the tensions between the advantaged and disadvantaged nations. This context makes more doubtful the future economical perspectives. The compensating structure of the world economy facilitates the exogenous nature of the underdevelopment of wide areas of the planet that are addressed to absorb the productive excesses of the advanced economies. The purpose of this current theoretical contribution is just to formalize, through an appropriate economical and mathematical pattern, the interdependence between the strong economical world and the weak economical world.

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Paper provided by Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia in its series Quaderni DSEMS with number 05-2007.

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Date of creation: Apr 2007
Handle: RePEc:ufg:qdsems:05-2007
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