ABSTRACT
The diffusion of individualism and materialism inherent in a capitalist world-system to developing countries is rationalised in terms of eliminating oppressive regimes, corruption and cronyism and evidences economic determinism. One of the more important market-supporting institutions and a fundamental requirement of a market economy is the institution of property rights. In addition to the political and legal institutions, other infrastructural institutions have been in existence long before the political decision to denationalized public enterprises in the United Kingdom. In Europe, the Common Agricultural Policy of the European Union is yet an example of the use of the political process to support entrenched political and economic interests. Trinidad and Tobago, for example, attempted to maintain the institutions inherited on independence in 1956 but soon succumbed to the political pressures to advance the socioeconomic status of certain groups in keeping with notions of equality within a plural society. In a market economy and therefore the capitalist world-economy, economic determinism derives society.
