the existing models, dependency theory evolved (Palma, 1978, pp. 891-924). Dependency theory relies on an analysis of peripheral development within an international capitalist economic order (Wallerstein, 1979, pp. 101-154). The general dependency model holds that underdeveloped countries are controlled economically by developed countries. The general model further holds that under development is not an original state, contemporary under development resulted from the economic imperialism of developed countries, the economic surplus in developing countries is drained to developed countries, and multinational business activity is the means of perpetuating dependency.
Adherents of dependency theory, however, could not agree among themselves as to exactly how dependency inhibited economic development (Palma, 1978, pp. 891-924). Four approaches to the application of dependency analysis. One approach held that dependency was an outcome of inhibited capitalist development in the periphery countries. This conception of dependency was a sort of neo-Marxist explanation of why the predicted bourgeois-democratic revolutions has not occurred in newly politically independent countries. A second approach conceived of dependency as the development of underdevelopment (Wallerstein, 1979, pp. 101-154). In this approach, developed economies were perceived as core countries, while undeveloped economies were classified as peripheral countri
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