| Few issues of economic development arouse such deep emotions or controversies as the role of the foreign sector. Most orthodox economists believe that foreign aid, investment, technology and transnational corporations (TNC) are important contributory factors to economic development. On the other hand, the neo-Marxist paradigm suggests that the present system revolving around the foreign sector represents the continuation of domination over the developing by developed countries. Foreign aid, investment, technology and TNC are regarded as tools of neo-imperialism, the devices by which developed countries continue to retain control over the economies of the ex -colonies. The role of foreign aid in economic development is also criticised by some extreme right... |
