Wallerstien's Dependancy Theory

Wallerstien's Dependancy Theory

1. Puts primary responsibility for global poverty on rich

   • Says economic Development in the world is blocked by industrialized nations
     • When a country's resources are controlled by prosperous countries
     • Inequality has roots from colonial era (Europe colonizing and exploiting.
       • Virtually colonies gained independence by late 20th century and hasn't translated to economic health.
         • Outgrowth of Marxism which emphasizes exploitation of on social class by another

2. LDCs respond to theory by practicing socialism

   • By providing countries with foreign aid
   • Socialist do NOT like this theory as justification for capitalist countries to exploit non-capitalist