AN OVERVIEW OF UNDERDEVELOPMENT IN THE THIRD WORLD COUNTRIES.

This study examines the relationship between the third world countries and the western capitalist countries. It shows dependency as a phenomenon that aid the rise, the economic growth and development of the developed world at expense of the third world countries which are economically underdeveloped), lacking the capacity and ability to control the economic system or productive processes of their societies. In attempt to address this problem documentary research method was employed in analyzing the data that was used. It is to this end that unequal relationship between third world countries and countries of the western world were various instruments such as colonialism, imperialism, neo'-colonialism,Bretton Wood System and globalization are being used exist. It is ascertained that this problem is historically rooted in foundation of the society. Among these recommendations are the growth of national economy, political stability and deliberate rural development programmes be conceived, enough resources be deployed in the local factories and innovation/creativity be encouraged by setting up research institutions, there must be mass participation in productive activities and underdeveloped countries be allowed freely by the developed countries to adopt the method of their development without due interference.