Describe dependency theory and delineate its salient features.

Dependency theory emerged in the mid-20th century as a critique of classical economic theories that suggested that economic development was a linear process that all nations could achieve through similar means. Developed primarily by scholars such as André Gunder Frank and Immanuel Wallerstein, dependency theory offers a framework for understanding the economic and social disparities between developed and developing nations. It posits that the wealth of developed countries is built on the exploitation and underdevelopment of poorer nations. 

Core Principles of Dependency Theory

1. Historical Context: Dependency theory is rooted in historical analysis, particularly the colonial and post-colonial experiences of countries in Latin America, Africa, and Asia. It argues that the historical relationships of colonization have led to unequal economic structures that persist even after formal independence.

2. Center-Periphery Model: The theory introduces the concept of a "center" (developed nations) and a "periphery" (developing nations). The center refers to industrialized countries that dominate global _________ _________ _____ __________ __________ _________ ______ ______.
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