Question

what is the role of industrialization in the development of less developed countries?

Answer 1

Industrialized economies also face the problems of maintaining low unemployment and inflation, choosing the optimal mix of public and private goods, and coping with domestic poverty, crime, and disease. Also, the United States, Japan, and Western Europe are experiencing record low birth rates coupled with longer life expectancies. This translates to a “graying” of the population, in which older people will come to outnumber younger people. This holds serious implications for funding their retirement and health care, as we saw in our look at the U.S. Social Security system in Hey, Big Spender! The Federal Budget.

http://www.infoplease.com/cig/economics/world-economies.html