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There is much criticism that modernization theory is Eurocentric. Do youthink dependency theory and globalization theory are also biased? Why orwhy not? Compare and contrast modernization theory, dependency theory,and globalization theory. Which do you think is more helpful in explainingglobal inequality? Explain using examples.The globalization, modernization, and dependency theories represent atheoretical argument on the realities of the economic inequalities across theglobe. They are among the theories that attempted to address the globalsocio-economic trends.Armer and Katsillis (2001) have postulated the modernization theory.According to the modernization theory, low-income countries are affected bytheir lack of industrialization. According to Armer & Katsillis (2001), poorcountries can create industrialization and other forms of economic growth toimprove their global economic standing through an adjustment of culturalvalues and attitudes to work. (Little, W. et al., 2014). Hendricks (2010)created the dependency theory in response to modernization. According toHendricks (2010), inequality is primarily caused by core nations exploitingsemi-peripheral and peripheral nations to creating a cycle of dependence.” Itargues that, as long as the poorer nations (classified as peripheral nations)are dependent on core nations (more prosperous nations) for economicstimulus and access to a larger piece of the global economy, they will never

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Term
Winter
Professor
N/A
Tags
Economics, modernization theory, Dependency theory, Hendricks

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