BharatNotes
Dependency Theory
/dɪˈpendənsi ˈθɪəri/A body of social science theory arguing that resources flow from a "periphery" of poor, underdeveloped states to a "core" of wealthy states — enriching the latter at the expense of the former; underdevelopment is not merely a lack of development but an active product of the global capitalist system that structurally disadvantages peripheral economies.
Context & Background
Developed primarily by Latin American economists and sociologists in the 1950s-70s, notably Raúl Prebisch (ECLAC), Andre Gunder Frank, and Fernando Henrique Cardoso; drew on Marxist analysis of imperialism and the structuralist economics of ECLAC.
