Date of Award

7-12-1965

Degree Type

Master's Essay - Restricted

Degree Name

Master of Arts (MA)

Department

Economics

Abstract

In view of the economic prosperity enjoyed by many Western countries, leaders of the less-developed countries are confronted with the problem of raising the living standards of their people and achieving economic development of their nations. The gap between the developed and the less-developed countries is tremendous. The former produced in 1963, 82.8 per cent of the free world's gross national product and ha.d a per capita gross national product of $1,828 compared with $154 for the less-developed countries, yet these less -developed countries have 71.2 per cent of the total population which is growing at an annual rate of 2.8 per cent. Even though these latter nations increased their percentage of the free world's industrial production from 8 .9 per cent in 1953 to 12 per cent in 1963, this growth ha.snot been enough to satisfy their people's rising demands and expectations for a better material life.

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