Dependency Theory

Under the guidance and direction of the Director of the United Nations Ecomomic Commission for Latin America Raul Prebish developed the 'Dependency Theory' in the late 1950s. It started as the question most people still wonder today: why is it that when industrialized countries have wonderful economic growth, poorer countries don't experiance the same thing? There is such an assumption "...that economical growth is beneficial to all even if the benefits were not always equally shared." This sentence struck me as funny because in a perfect world, this would be the case. In this article, there are different arguements and opinions about what dependency means. In the end, dependency ties into the same kind of definition. In a nutshell, the Dependency Theory tries to explain how underdeveloped nations are the way they presently are through interactions with other nations. On the sidelines, there is inequality involoved in these interactions. Just like in class, Mr. Stetina asked about capatalism and power. The article then raises the question if this problem is capatalism or power. It's a rather interesting article about The Dependency Theory.