The effects of the lost decade of the 1980s on the Third World have been devastating – more than is usually realised. It will be an almost impossible task for Third World countries to make up for the losses in the coming decades. In this sense, the lost decade will be with us for a long time to come. The article then speculates about the long-term trends, both favourable and unfavourable, for Third World countries, and expresses some doubts whether the currently predominant neo-liberal counterrevolution will really serve to lay the foundation of future solid and sustainable growth. A more eclectic and country-specific approach is advocated.
