Dependency Theory And Dependency Theory

The “Developing World” ,as defined by the United Nations as, simply newly industrialised countries. This means that a developing country which is also known as a third world country or rather an underdeveloped country, is a nation with a particularly less developed industrial base and a low human development index in ration to other countries globally. Therefore, while looking at the global scale, human beings are now living in an era called the 21st Century which is best described by core competencies such as collaboration, more commonly known as globalisation, digital literacy (Rich.E.(2010)). These various advancements,which are based on a number of Development Theories, have advocated the need for these less developed nations to thrive

By definition, the dependency theory is the idea that resources stream from a "periphery" of deprived and underdeveloped states to a "core" of affluent states, elevating the latter at the cost of the former. This dependence stops developing nations from fully generating organizations and infrastructure essential for their full evolution into industrial nations. Developed countries, commonly known as the First World countries are nations with the most improved economy, best standard of living, the most advanced technology,and influence the world the most. They have managed to achieve these qualities mainly through previous forms of authority, such as colonialism. During the colonial period, newly-industrialized colonial nations extended into zones that were untaken by other colonial powers. The outcome was that the natural resources of developing nations were used to fuel the colonial nations' factories. This was carried out by imperial powers which often involved direct military and political control. After colonialism collapsed after the Second World War, its legacy continued. Global finance and capitalism turned out to be the preferred methods of control over developing nations. As an outcome, many developing countries now owe developed nations a significant amount of money and cannot shake that debt. Others grieve from a dependence on importing finished goods and exporting natural