INTRODUCTION
Development is an essential concept that encompasses different economic, social, and political
aspects of societies. The third world countries have been struggling to achieve development and
uplift the living standard of their people.
DIFFERENCE BETWEEN THE THEORIES
Dependency theory and modernization theory are the two main theories of development.
Dependency theory argues that the global economy favors developed countries at the expense of
developing countries. Modernization theory, on the other hand, argues that developing countries
need to follow the path of developed countries to achieve economic growth.
EXPLAIN THE TWO THEORIES OF DEVELOPMENT DEPENDCY AND
MODERNIZATION THEORIES
Dependency theory contends that developing countries are highly dependent on developed
countries for investment, technology, and trade. According to this theory, developed countries
hold a dominant position in the global economy, and developing countries are relegated to
producing raw materials, while developed countries engage in manufacturing and higher value-
added activities. Dependency theorists argue that this relationship perpetuates poverty and
inequality in developing countries. Developing countries are unable to break free from this
dependence, and their attempts at development are often undermined by the developed world's
interests.
Modernization theory, on the other hand, argues that developing countries can achieve economic
growth by adopting the practices of developed countries. According to this theory, developing
countries need to modernize their economies by investing in education, infrastructure, and
technology. Modernization theory suggests that these investments will lead to a shift from
agricultural to industrial production, increasing productivity and driving economic growth.
Supporters of modernization theory argue that this approach has been successful in many
countries, such as South Korea and Taiwan.
CONCLUSION
In reality, the adoption of these theories has had mixed results. Many developing countries have
struggled to achieve sustained economic growth, while others have experienced significant
improvements in their standards of living. The complex nature of development and the global
economy makes it difficult to rely solely on one theory or approach.
Reference:
Alemayehu K. (2016). Dependency and Modernization Theories of Development in
Understanding underdevelopment. American Journal of Social Science Research, 2(2),
27-32. [Link]