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Dependency Theory & Latin America

Latin America is a region showing extremes of great wealth and utter poverty in country after country, and theorists have indicated that one of the reasons for this is the late nineteenth and early twentieth century patterns of political and economic development as Latin America was tied to the countries of the so-called First World, meaning Europe and the United States. One of the elements cited in these views is dependency theory, which provides a way of seeing the relationship between the First World and developing countries such as those of Latin America both during and after the colonial era.

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-class formations that have emerged in places like Latin America and also the structure of trade, technology, and investment between the developed and the developing world (Gilbert and Gugler 1-3).

The arrival of Europeans in different parts of the world signaled significant change for the indigenous peoples of these regions. Crosby discusses the coming of Europeans to the Western hemisphere beginning with Columbus and finds that after this first arrival, m...

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Dependency Theory & Latin America. (1969, December 31). In LotsofEssays.com. Retrieved 16:35, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1702654.html