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Answers
Explanation:
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Dependency theory as an intellectual movement emerged as a response to modernization theory, a quasi-evolutionary model of economic development that posited that nations move linearly through successive stages of growth (Gunder Frank 1969; Rostow 1959). Economist William Rostow, one of modernization theory’s chief architects, proposed five distinct stages of economic development, beginning with “traditional,” agrarian societies, moving upward through greater investment in manufacturing, before culminating in an urbanized national economy oriented towards the mass production of consumer goods (Ibid.). In response, ECLAC economist Raúl Prebisch and Andre Gunder Frank argued that Rostow’s model assumes a false dichotomy between “traditional” and “modern” societies, and disputed , which formalized one of dependency theory’s primary tenets. Prebisch and Singer used trade data between wealthier, northern countries and Latin America to analyze the aggregate terms of trade of these interactions, ultimately concluding that an imbalance inherent to this exchange resulted in a constant flow of capital out of Latin America (Prebisch 1959). While Latin American countries exported primary goods like food products, lumber and minerals to the Global