Explain dependency theory of development. What are major criticisms of this theory?

Dependency theory is a perspective on economic development that emerged in the mid-20th century as a response to the shortcomings of modernization theory and as a way to understand the uneven development patterns between the Global North (developed countries) and the Global South (developing countries). This theory posits that the underdevelopment of certain countries is a result of their economic and political dependence on more powerful and developed nations. Dependency theory has been influential in the field of development studies, but it has also faced significant criticisms.

Key Principles of Dependency Theory:
1. Core-Periphery Model: Dependency theory conceptualizes the global economy as divided into two main categories of countries: the core and ________ _______ ______ ___ _________ _____ ________ ____.
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