Explain Frank's thesis of development and underdevelopment

Albert O. Hirschman's theory of development and underdevelopment, often referred to as Frank's thesis, argues that the relationship between developed and underdeveloped countries is not just one of a rich North and a poor South, but rather a more complex dynamic of "reciprocal causation." According to this theory, the development of some countries and the underdevelopment of others is not a result of internal factors alone, but is instead the result of a complex interaction between internal factors and external factors, including the actions and policies of developed countries.

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