Economic Progress in Poor Countries

Without aid from industrialized, wealthy nations, poor countries are trapped in poverty. Because they are poor, they are unable to save and invest. Lacking investment, they cannot progress forward and will remain poor. Evaluate this view. Think about it in light of what you have been learning in this course.

Do wealthy, industrialized countries have a duty to help poor countries?

Why or why not?

Reference:

Krugman chapters 6 (pp. 177-179) and 9 (pp. 241-264)

Reisman pp. 63-67 and 634-639