"Development" has become a catchword for the recently developing countries of the world. But their efforts to development does not often produce the awaited results. Reasons are varied. This paper attempts at explainig it through a special and belimited point of view : the legacies of colonial nexus. History bears weight. In explaining any society we need to consider its history too, because history can shed light toward understanding its mode. Today if we look at the history of these countries, we find, almost all of them had undergone a nightmare of colonial exploitation. A great majority of them have gained independence in last two or three decades only. Their morals, values and codes of behaviour were shattered under long colonial rule where efforts were made to only partly change these societies. Motivations for such change were varied-ranging from benevolent goodwill, expansion of western ideas, to downright ex-ploitation. Thus a distorted or shattered society of uneven social change was created. Polarization became prominent. It is in this situation that most of the third word countries today are struggling for a leap forward to development. But their shattered condition do not give them the necessary momentum to a rapid development. The essay tries to give light to this aspect of development, although it is understood that the question is more complicated and needs examination from various other standpoints. Still we need to consider the experience of colonial subjugation with more weight and try to find means for coping with resultant hinderences.