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    The central contention of dependency theory that poor states are impoverished and rich ones enriched by the way poor states are integrated into the world system. The Dependency theory arose as a reaction to modernization theory, an earlier theory of development which held that all societies progress through similar stages of development. Dependency theory rejected this view, arguing that underdeveloped countries are not merely primitive versions

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    LDC Advisement: Modernization Theory vs Dependency Theory The path to modernization is one never clearly defined. The following report will attempt to analyze and critique our nation’s potential options concerning social and fiscal policy and use this information in an attempt to recommend future policy agenda. We will be dealing with primarily two theories on national (i.e. LDC) policy - modernization theory and dependency theory. Both have their own sets of costs and benefits as well as

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    anything left for themselves. This is seen as an “exploitive” relationship that often results in war. The dependency theory is a very different approach than the others. It offers great insight into a concept that is often overlooked, however, this theory risks being too narrow. It does not do a great deal to account for other types of international relationships. Power is at the center of this theory as well, and in this situation, it is beneficial to one

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    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

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    Dependency Theory

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    problem of poverty, and hence the consequences that follow. Global inequality is an extremely grave problem that needs the world’s attention. Dependent development has played a very significant role in bringing about global inequality. This theory of dependency suggests that the “core” or rich countries of the world have an unfair advantage over the “periphery” or poor countries. They appear to benefit from the development that occurs in poor countries, resulting in the peripheral countries to be

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    Introduction The theory of dependency was initially developed in late 1950s under the guidance of Raul Prebisch - the Director of the United Nations Economic Commission for Latin America - in order to explain serious economic problems, such as poverty, economic exploitation and influence in policy actions, which happened in the poor countries in Latin America because of the development of the neighborhood developed countries (Ahiakpor 1985; Ferraro 2008). Since being formulated, dependency theory has become

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    Critique of World Bank Report

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    reasons for the lack of development in these countries, and gives various strategies that could help reform their economic conditions for a brighter future. From my perspective, the article focuses on theories of modernization, and this paper will be contradicting that theory by supporting the dependency theory, critically analysing the reasons for Africa’s poor economic performance in the past, as well as possibilities for the future. Africa is a land with immense possibilities due to abundance of resources

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    Theories of development have been motivated by the need to explain mass poverty. Interest in development issues is of rather recent origin, dating back not much earlier than the nineteen fifties and early sixties. As represented by their more influential proponents, the development schools of thought reflect roughly the following chronological order of appearan Modernisation Theory 1950s-1960s Modernisation emerged in the late 1950s and early 1960s; it was constructed from a newly profound position

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    amongst various schools of thought. The three dominant theories that explain the determinants of economic development list as followed: the modernization theory, suggesting that liberalization and democracy are the most pivotal components for economic development; the dependency theory, declaring that emerging nations should solely depend on the exportation of primary goods and import substitution industrialization; and the state-led developmental theory, encouraging state interventionism to ultimately

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    model, ISI appears in Latin America as another economic option, proposed by ECLA (Economic Commission for Latin America, dependent of the UN) as a means of bringing Latin America out of stagnation and work towards industrialization to eliminate its dependency on agriculture which was seen as vulnerable. There are two critical ways in which this model must be examined, theoretically as well as its concrete outcomes and policy implications within Latin American states. By looking at these, one is able

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