Take a look around yourself. Most of us see a very well developed country with low population in poverty. Then we wonder, if we are surrounded by a wealthy or even middle class society, why can't some countries develop the same way? There are 2 major reasons that explains why many countries lack a source of income.. Either the rich just take advantage of the poorer ones or the poor countries are flat out corrupt. When we say "poor" countries, we refer to them as less economically developed countries (LEDCs). The major way a country makes money is through trade and commerce. These factors determine how much money a country is capable of making. The less economically developed a country is, the less money it can make therefore leading to corruption and exploitation. There may be many factors that lead to the creation of under-developed countries. There could be problems of culture, politics, geography, but there still remains one question. How can these countries get back on their feet? To kick-start the economy, it would require help from another party. In return, the country will have to pay back their debts with interest, after they jump-start their economy. When the country is able to sustain itself, it may begin to pay back its debts.
Why are some countries poor?
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