Modernization Theory And The Dependency Theory Essay

805 Words Oct 21st, 2015 4 Pages
Since the early 19th centuries until now, there are many improvements in economic happened in Latin America. In the study of Latin America, the dependency theory and the modernization theory are one of the most significant theories that helps us analyze and understanding the traditional stages of Latin America. However, this paper will be focusing on the principal differences between the modernization theory and the dependency theory. Plus, it will also show how each of these theories affected the economic development of Latin America. There are many processes for each country to go through to step from the traditional society to a modernized state. As I mentioned earlier that there are two theories that plays an important role in the Latin America economic development; modernization theory and the dependency theory. Modernization theory refers to a process of development that a country has to go through from the traditional stage to a modernized one. On the other hand, the term dependency theory refers to the idea that economic growth of the industrialized countries has an effect on the economy of the underdeveloped country. According to the reading, Rostow’s identified the modernization theory as the process of development for a nation to become a modernized state. Moreover, Rostow’s outline the five stages of growth for a country to become a modernized state; the traditional society, the preconditions for take-off, the take-off, the drive to maturity, and the age of…

Related Documents