Surname 1
Name
Instructor
Course Title
Date
History of Development Trajectories and Outcomes
To better understand and explain the current global economic and development
trajectories, it’d be important to go back at least 65 years. This period is immediately after the
end of the Second World War and the beginning of the Bretton Woods organizations. These
organizations, which included the World Trade Organization (WTO), World Bank, and the
International Monetary Fund (IMF), have played a significant role in tracking and recording the
trajectory of development through open markets (Robinson & Acemoglu, 19). Although the
United States, Europe, China and most of Latin America had started their accounts earlier, global
development, guided by international trade and globalization, began with these international
organizations.
The narrative of development has only recently been merged. Before Bretton Woods, the
theory world inequality as observed by Robinson and Acemoglu (41) was entirely new. Two
countries, regions, or groups of people cannot be unequal unless they are comparable. Different
sections of the world became comparable when they started trading with each other under
common rules of engagement. It is also within the same period of 1950s that transport,
communication technology, and global cooperation initiatives picked up. The colonized nations
of the world gained independence from colonizers and joined the league of sovereign nations in
charge of their own destinies and accounts.
Name
Instructor
Course Title
Date
History of Development Trajectories and Outcomes
To better understand and explain the current global economic and development
trajectories, it’d be important to go back at least 65 years. This period is immediately after the
end of the Second World War and the beginning of the Bretton Woods organizations. These
organizations, which included the World Trade Organization (WTO), World Bank, and the
International Monetary Fund (IMF), have played a significant role in tracking and recording the
trajectory of development through open markets (Robinson & Acemoglu, 19). Although the
United States, Europe, China and most of Latin America had started their accounts earlier, global
development, guided by international trade and globalization, began with these international
organizations.
The narrative of development has only recently been merged. Before Bretton Woods, the
theory world inequality as observed by Robinson and Acemoglu (41) was entirely new. Two
countries, regions, or groups of people cannot be unequal unless they are comparable. Different
sections of the world became comparable when they started trading with each other under
common rules of engagement. It is also within the same period of 1950s that transport,
communication technology, and global cooperation initiatives picked up. The colonized nations
of the world gained independence from colonizers and joined the league of sovereign nations in
charge of their own destinies and accounts.
