Abstract
This article is concerned with an analysis of the causes of the poverty of the developing countries. The decade of the 1960s opened with a new wave of optimistic expectations for the periphery.1 There were, first of all, the massive decolonisation efforts, which to many implied the eclipse of imperialism and the possibility of meaningful economic reconstruction by the former colonial people, now that political power was in our own hands. ‘Seek ye first the political kingdom and all things shall be added unto you’, succinctly if unaptly captured the prevailing mood of the time.
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