What are the strengths and weaknesses of dependency theorists Essay - 1

What are the strengths and weaknesses of dependency theorists interoperation of global inequality What are the strengths and weaknesses of modernisation theorists interoperation of global inequality - Essay Example this paper will focus on other factors that are perceived to be of immense significance when it comes to general shortcomings of these theories and their strengths as well. Specifically, this paper is going to evaluate the view of dependency theory in relation to its strengths and weaknesses in relation to interpretation of global inequality. The emergence of dependence theory is based on the questioning of reliability of market-oriented theories like modernization theory. The major issue of concern was to reject the idea that the major reason according to modernization theory, why underdeveloped countries continued to be poor was due to their cultural and institutional faults. Dependency theorist built their argument based on Karl Marx’s capitalism. This is what was highlighted in major areas of concern as to why these countries were underdeveloped. They argued that capitalism was responsible for creation of a class of countries that manipulated other countries (Giddens 2009). This is in relation to what happens to capitalism within a country, where the rich or owners of means of production exploit workers or low class people. In light with this, dependency theorist argues that poverty and underdevelopment of low income countries is as a result of exploitation by the wealthy nations. In their view, dependency theorist believes that this kind of exploitation began with colonialism. This is the spectrum through which wealthy and powerful nations ruled over the weak nations for their greed for profit maximization and domination. For example, powerful nations have colonized poor countries in a bid to acquire raw materials to use in their factories. In addition, they ensure that they control the market from which the poor countries trade on. Unfortunately, the products sold in the controlled market are the end products of the raw materials taken by the wealthy nations. In fact, it is believed that this is well executed by global companies supported by big banks