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i was thinking in terms of wage rates specifically , i have relatives in canada , the uk and australia , canada would have been viewed as a higher wage payer amongst my extended family than australia prior to the nineties , its like australia really took off once china became an economic giant
i stress that i wasnt implying australia and canada were ever apart like germany and greece in terms of wealth
The 1950s and 60s were certainly boom times for the Australian economy; huge foreign demand for agricultural commodities, industries created in war-time kick starting a surge in manufacturing, large waves of European immigration fuelling domestic demand.
The mid 70s to mid 80s were definitely a flat spot, but they prompted the economic reforms of the mid to late 80s that triggered Australia's current boom period that probably started in the early 90s. One of the key reforms was compulsory superannuation (retirement saving) - it created a large pool of privately held funds available for investment. The China-triggered 'resources boom' only kicked in in the mid 2000s, and it was very a two sided phenomenon. I think a lot of folk would argue that its negative impacts on other sectors of the economy outweighed the benefits it created.
And it's funny that whenever I mention Industrial Revolution to Americans, they automatically think of their own version of it. And some even ask "was there an Industrial Revolution in UK too?"
According to Wikipedia, the term "first world" came into use during the Cold War. The U.S. used it to refer to market economy democracies such as the U.S. itself, and its close allies. The "second world" was the USSR and the countries behind the Iron Curtain. Unindustrialized countries were the "third world".
According to Wikipedia, the term "first world" came into use during the Cold War. The U.S. used it to refer to market economy democracies such as the U.S. itself, and its close allies. The "second world" was the USSR and the countries behind the Iron Curtain. Unindustrialized countries were the "third world".
Of course these terms 'first world', 'second world', 'third world', are outdated.
What makes more sense today is calling the countries as developed, developing and underdeveloped. And even this classification is problematic, since it's based on western concepts.
According to Wikipedia, the term "first world" came into use during the Cold War. The U.S. used it to refer to market economy democracies such as the U.S. itself, and its close allies. The "second world" was the USSR and the countries behind the Iron Curtain. Unindustrialized countries were the "third world".
Yes, third world countries like Finland, Sweden, Switzerland and Austria were really unidustrialised.
Of course these terms 'first world', 'second world', 'third world', are outdated.
What makes more sense today is calling the countries as developed, developing and underdeveloped. And even this classification is problematic, since it's based on western concepts.
Yeah, people don't realize how insulting it is to tell a person that their country is third world or underdeveloped.
Unfortunately, there are too many countries in the world for which this description is apt.
Yes, third world countries like Finland, Sweden, Switzerland and Austria were really unidustrialised.
Those countries were all still free market economies with democratic governments, so I'm pretty sure they were considered "first world" (even though they weren't allies of the U.S. in the sense of being members of NATO or anything of that sort).
The categories are problematic, even looking at the condition of the world in the 1950s or 1960s.
The reasoning for the categories is obsolete now, going by the Wikipedia definition.
Yeah, people don't realize how insulting it is to tell a person that their country is third world or underdeveloped.
Unfortunately, there are too many countries in the world for which this description is apt.
Well, as a brazilian, I never fell insulted when someone states that the country is third world. Since the kindergarten we learn to deal with this. And sincerely I don't imagine Brazil as a developed country, in any time in the future. People here have little interest in politics, most are convicted that all politicians are corrupt and they will never change, and the most influent politicians still have ideas of the early 20th century.
Is the U.S. a first world country? I see a lot of rich people, poor people, and almost no middle class.
Do the poor americans suffer of famine and live in slums?
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