Difference Between Third world, Second World, First World Countries.
|First World Countries||They include the countries which developed rapidly after industrial revolution during 18th and 19th centuries.It basically included market economies having capitalism as main ideology.|
|Second World Countries||they include the countries who adopted Central Planning as economic system and monopoly of the state after Russian revolution of 1917s. Their ideology is socialism.|
|Third World Countries||They include economies which became free from colonial rule in mid 20th century and they are backward as compared to first and Second World Countries.There is no clear cut demarcation of economic system.|
|Fourth World Countries||The term Fourth world was coined by paul Streaten.
They are among Third World Countries(less developed) but are the least developed amongst these less developed countries.