write 2000 words of an essay on the future of less-developed countries in the age of globalization. In pursuit of your arguments, discuss "development" as a historical concept. Is "development" a specific stage of 20^th century capitalism, or is it a natural phase that all nations will go through (provided they apply the "right" policies). Discuss the role of the developmental state in promoting development objectives in the next century? Has the developmental state passed away? If not, what should the new policy tools and objectives of the state be under the age of globalized commodity and capital markets?

The book that was used:

The Process of Economic Development

Author:James M. Cypher