International Development 341
Interdependence theory verses Dependence theory
Respond from Unit 7 Modernization Theory Misses the Point: Development Does not
mean the Same Everywhere, from Video-Lecture I What is Interdepen
a) Modernization Theory is a description and explanation of the processes of
transformation from traditional or underdeveloped societies to modern societies.
b) Historically, modernization is the process of change towards those types of social,
1.The Washington Consensus are policies Propagated through the stabilization and
structural adjustment policies of the International Monetary Fund (IMF) and World Bank
with the purpose of help poor countries.
2. (1) Fiscal Discipline