2017 · Q92
Who among the following scholars argued that “capital created underdevelopment not because it exploited the underdeveloped world, but because it did not exploit it enough” ?
General KnowledgeIndian Economy
- ABill Warren
- BPaul Baran
- CGeoffrey Kay
- DLenin
Explanation
The quoted argument — that 'capital created underdevelopment not because it exploited the underdeveloped world, but because it did not exploit it enough' — is Geoffrey Kay's critique of Bill Warren's thesis in 'Imperialism: Pioneer of Capitalism'. Paul Baran argued the opposite (that surplus extraction caused underdevelopment), and Lenin's theory of imperialism belongs to a different debate. The passage is by Geoffrey Kay.