Fourth International Islamic Economics Seminar

Abstract

During the past three decades, development has been perceived both as a goal itself and as a means towards achieving certain goals. In many Third World countries, development has even become a form of ideology. To achieve it, numerous theories and strategies have been presented. Many of these approaches have been experimented with in a practical manner. In general, however, returns and benefits have been negligible. Although modernized sectors have appeared in most third World countries, along with social classes and lifestyles similar to those of the West, the majority of the population's economic and social standard of living has deteriorated. Many basic human and Political rights have even been stripped away in the name of achieving development. In many instances, development has become nothing more than a slogan and a means for despotic regimes to solidify their grip on their unfortunate populations. Perhaps the same factors contributing lo the lhlrd World's paralysis contribute to the West's success and achievement. One group of related factors is the concept of development, its ideology and strategy. When we analyze this issue, we find that the historical advances in western society since the Industrial Revolution, and its associated social and cultural movements, did not follow a predetermined written strategy or various five- and ten-year plans. Rather, this development followed a more spontaneous course determined by the changing circumstances of time, place, culture, and individual effort. As a result of the accumulation of such experiences, procedures, and know-how, development was achieved. When development was defined as a goal for the Third World, readymade western procedures, theories, and strategies were adopted without regard to the fact that these procedures were not actually implemented in the West but rather came about as a result of a long period of trial and error. In the third World, however, they are implemented beforehand and thus redefine what the Third World will look like socially, culturally, and intellectually ...