Faldage's explanation concurs with my understanding of these, now outdated terms. Came about after WWII did they?
I always chuckled at the thought of a ranking list for countries. The terms merely reflected the countries economic and political standing, by no means the population's contentment. BTW, the start of 'The Meaning of Life' opens in the 'third world' .. Yorkshire!
The 'developing' and 'developed' we have nowadays, just invites the question: Developed into what?! Something better, higher, no, I know .. RICHER. Thank heavens we have our own scale on which we can base our triumphs.


CDB
anticipated egocentric pragmatist and materialist