Modernization theory
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Modernization theory states that underdevelopment is a condition caused by problems internal to the country (Understanding). These problems include the beliefs, attitudes and values of the people, the culture, the countryÆs government, and its policies. A countryÆs prosperity is dependent on its changing to a market economy, and making use of the countryÆs resources, and ingenuity is critical to this development in promoting a competitive advantage (LDCs). Stability is attained by changing from a culture of violence, and promoting democratic reforms. In modernization theory, problems which held back the industrialization of poor countries are related to the irrational way in which the resources are allocated in a traditional society
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Approximate Word count = 501
Approximate Pages = 2 (250 words per page)
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