Problems of Social and Economic Development Facing Third World Countries

The developed Western countries with their free market economy; the Socialist countries of Eastern Europe with their economies that are highly planned and subject to both public ownership and control; the developing countries of the Third World with oscillating differences in their political systems and economic structures yet linked through a common history of conquest and exploitation by colonial powers, are all bedevilled by the problems of organizing their own economies in a manner which would maximize the interest and social welfare of those they purport to serve.