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Third World: Latin America
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The term Third World applies to developing nations in Asia (except China), Africa, and Latin America that cannot maintain self-sustaining economies. Third World nations produce only a few primary materials and are dependent upon the industrialized nations for finished goods (especially highly technical and heavy industrial equipment), which they purchase with the money they make from raw materials they sell to the industrialized powers. This unbalanced economic arrangement leaves these nations with a very high debt load, which is often more than the amount of money the nation makes each year.
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Third World splintered away from Inner Circle in the 1970s to develop their extremely influential Pop-Reggae sound, practically inventing that genre. On "Now That We've Found Love" the band became one of the first to utilize sounds from American pop music, only to gain the dubious distinction of introducing the synthesizer to reggae music. Their album 96 Degrees in the Shade remains a rootsy classic, and the band has since gone on to add bits of Dancehall and hip-hop to their crossover sound.
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The Poverty of Nations examines the origins of the global debt crisis and explains how it keeps, prevents and hinders Third World economic development. The contributors elucidate the international financial system and show the responsibility that U.S., European, and Japanese banks have for this crisis. Case studies from Latin America, Africa, Asia, and Eastern Europe serve to illustrate the affect of mounting debt on the Third World. Also included in this book is a glossary of technical terms written for the non-specialist and a chronology of the debt crisis.
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Unfortunately, indiscriminate support for "traditional" autocrats combined with pervasive hostility toward Marxist regimes has been a staple of American policy in the Third World for the past 35 years. The most notable deviation from this dreary record occurred during Jimmy Carter's administration. President Carter's approach to Third World affairs began with an apparent sophistication that had eluded his predecessors entirely. In May 1977 Carter stated: "Being confident of our future, we are now free of that inordinate fear of communism which once led us to embrace any dictator who joined us in that fear."[39] He made it clear that human rights considerations would play a significant role in determining whether U.S. military and economic aid would flow to other nations.
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This combination of conditions in Asia, Africa, Oceania and Latin America is linked to the absorption of the third world into the international capitalist economy, by way of conquest or indirect domination. The main economic consequence of Western domination was the creation, for the first time in history, of a world market. By setting up throughout the third world sub-economies linked to the West, and by introducing other modern institutions, industrial capitalism disrupted traditional economies and, indeed, societies. This disruption led to underdevelopment.
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A false realism as well as moral insensitivity characterizes American policy toward Third World dictatorships. There is a disturbing tendency to view such regimes in caricature, regarding right-wing governments as valuable friends whose repressive excesses must be ignored or excused, while perceiving leftist insurgent movements and governments as mortal threats to America's national interest, justifying a posture of unrelenting hostility.[4] For example, the Reagan administration pursues a confrontational policy toward the Marxist government of Nicaragua, terminating all aid programs, imposing a trade embargo, and supporting rebel guerrillas. At the same time, Washington lavishes economic and military aid upon equally repressive "allies" in South Korea, the Philippines, Zaire, and elsewhere.
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