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Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the " world system ".
The theory reached its peak in the early 1970s when it propagated throughout Latin America, the United States, Europe, Africa and Asia. However, after the fall of the Chilean Allende Government in 1973, which was heavily based on the dependency theory, critics of this theory increased in number. The theory does not have many proponents today ...
Ruy Mauro de Araújo Marini (May 2, 1932 – July, 5, 1997) was a Brazilian economist and sociologist.Marini is internationally known as one of the creators of dependency theory, [1] [2] [3] Super-exploitation, and Unequal Exchange.
Raúl Prebisch (April 17, 1901 – April 29, 1986) was an Argentine economist known for his contributions to structuralist economics such as the Prebisch–Singer hypothesis, which formed the basis of economic dependency theory. He became the executive director of the Economic Commission for Latin America (ECLA or CEPAL) in 1950. [1]
Wallerstein's definition follows dependency theory, which intended to combine the developments of the different societies since the 16th century in different regions into one collective development. The main characteristic of his definition is the development of a global division of labour, including the existence of independent political units ...
In some instances, the exploitation of periphery countries' agriculture, cheap labor, and natural resources aid core countries in remaining dominant. This is best described by dependency theory, [2] which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for periphery countries to rise out ...
Neocolonial dependence, also known as the Neocolonial Dependance Model or Dependency Theory is an indirect outgrowth of Marxist thinking which is a subgroup of development economics. According to this doctrine, third world underdevelopment is viewed as the result of highly unequal international capitalist system or rich country-poor country ...
Andre Gunder Frank (February 24, 1929 – April 25, 2005) was a German-American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy, but rejected Marx's stages of history, and economic history generally. [citation needed]