Modernisation and Dependency Theory

Paper Summary:

This paper examines the concepts of modernisation and dependency theory in relation to developed and undeveloped countries. It shows how the theories are very different in their approach and the eventual outcomes of their analysis of the world system lead to very different ideas as to how the undeveloped world can "catch up" with the western world. It attempts to address the different elements inherent within the two theories, highlighting any differences and similarities and how they may be applied in the current global environment.

From the Paper:

"The theory of Dependency was according to Chong-Ya: "in vogue in Latin America in the 1950s and 1960s," although its origins as an established critique stem from the inauguration of the Economic Commission for Latin America (ECLA) in 1948. The major role of the ECLA was to initiate "more systematic economic research" whilst it also "necessitated a policy of import substitution, later systematized into a fully-fledged development strategy." Yet the theory still holds weight in light of the increase in supposed exploitative agents. Recent globalization is thought to have been the origin of the exponential growth of the dominance of multi-national largely western corporations in the world system."

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