A few examples, from The Glossary of Empire:
“Stable”
(peaceful, governed, orderly)
Resources are flowing to Western interests without interruption. Contracts are honoured, oil is exported, debt is serviced. Has nothing to do with whether the population is fed, safe, or free.
“Democracy”
(free elections, rule of law, civil liberties)
A governance arrangement compatible with Western capital. Celebrated when the right candidate wins. Ignored or reversed when the wrong one does. See: Gaza 2006, Algeria 1991, Zimbabwe 2008.
“Dictator”
(authoritarian ruler who oppresses his people)
A leader who has stopped cooperating with Western extraction. Yesterday's partner, today's tyrant. Applied selectively — never to friendly autocrats.
“Failed State”
(a government unable to provide basic services)
A country whose government can no longer protect Western business interests or honour extraction agreements. Somalia after rejecting IMF terms. Libya after Gaddafi's removal.
I hear every one of these terms in that grating, Neoliberal, singsongy delivery that is now a prerequisite for the current flock of NPR radio show hosts.
Yes, you put it rather well, and I agree that the U.S. is indeed underdeveloped in this way.
To piggyback on your comment: While I agree with the general sentiment of what Parenti, et al intend behind the phrase, at this point in time “underdeveloped” is often used to refer to nations/people/land that are actually “under-extracted” in the eyes of capital.
“Underdeveloped” acts as a euphemism by which capitalists can justify their presence by claiming to be contributing to so-called “human development” by way of industrial development, when in reality they mean “further resource extraction” and “wealth accumulation.”
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