Answer to Question #195871 in Economics for Carina Bagasol

Question

Is the concept of the developing world a useful one?Why or why not?

Answer 1

Many in the economics and development community already think it’s time we stopped using it. Bill and Melinda Gates certainly think the term to be passe, and In a recent talk, Hans Rosling argued that what most people think of as the divisions between the “developed” and “developing world” no longer exist, that using the term developing world’ is intellectually lazy, and that we should classify countries more precisely.