Dependency Theory of Development

The Dependency Theory of Development is a critical economic and social theory that seeks to explain the underdevelopment of certain nations in relation to more economically advanced countries. Developed in the 1950s and 1960s as a response to the limitations of traditional development theories, the Dependency Theory highlights the exploitative relationships between developed and underdeveloped nations.

Key Points:

1. Core-Periphery Model: The theory suggests a division between the "core" (developed countries) and the "periphery" __________ ____ ___ ______ ___ _______ __________.
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