Dependency Theory & Latin America

Dependency theory refers to the theory that development involves the dependency of the Third World on the developed world in a relationship defined by the exploitation of resources. Dependency theory was developed as an explanation for the patterns of development found in Latin America, finding that this pattern had been conditioned by the incorporation of the region into the capitalist mode of production. Development and underdevelopment are seen in terms of dependency theory as part of the same process and not as separate entities. Dependency theory was fashioned to explain the patterns of development in Latin America and held that this development had been conditioned by the incorporation of the region into the capitalist mode of production. The dependency of the Third World on the developed capitalist nations involves an interaction that explains the economic and social-

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le export increased Brazil's economic vulnerability and multiplied the effects of capricious demand and/or of successful competition (Burns 81). Current theories of dependency link imperialism and dependency, seeing a new dependency in the role of oligarchies and foreign capital and with the rise of multinational corporations, and viewing countries like India as having a need for foreign capital and as being dependent for this reason. There are also other forms of dependency that have been addressed, such as cultural dependency and technological dependency, all of which imply relationships between developed and underdeveloped nations. For the classical economist, dependency theory does not indicate why dependency is taking place, only that it is taking place. For the Marxist, the theory lacks the element of conflict between classes that the Marxist sees as the important issue. The patterns discerned explain the past patterns of development and underdevelopment, as in Latin America, and more recent patterns such as with India or Africa (Gilbert and Gugler 1-12). Gilbert and Gugler state that the term "Third World" has been much abused in the literature as a reference to the poor countries of the world, those countries often
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Some common words found in the essay are:
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Approximate Word count = 1553
Approximate Pages = 6 (250 words per page)

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