There is one question in this exam. Your answer should be around 2000 words (4 Word pages). Your answers should be clear, precise, and to the point. They should take the form of a sustained and systematic argument backed by reasoning and evidence from course readings and any other material you see useful. All your sources must be properly cited. Use a standard citation style such as that contained in the Chicago Manual of Style or the MLA Handbook or another recognized scholarly style manual.

Important note 1: Submit your assignments as a Word document. This will allow me to comment on your assignments and give you feedback.

Important note 2: Make sure that you check out the grading rubric before preparing your answers. This will help you to get an idea about what I expect from you.

Plagiarism is the use of the words and/or ideas of others as if they were your own. The penalty for plagiarism in this course is a grade of "F".

Question: Discuss, comment, and organize your thoughts on the future of less-developed countries in the age of globalization. In pursuit of your arguments, discuss "development" as a historical concept. Is "development" a specific stage of 20th century capitalism, or is it a natural phase that all nations will go through (provided they apply the "right" policies). Discuss the role of the developmental state in promoting development objectives in the next century? Has the developmental state passed away? If not, what should the new policy tools and objectives of the state be under the age of globalized commodity and capital markets?