Modernization Theory

Topics: Economics, Economy, Dependency theory Pages: 2 (813 words) Published: April 28, 2013
Modernization and Dependency Theory
One in six children, ages five to fourteen, are involved in child labor in developing countries, that’s sixteen percent. Worldwide, 126 million children work in hazardous conditions; which often endure beatings, humiliation, and sexual violence by employers (Child Labor Facts). With the Modernization and Dependency theory, this allows a more powerful country (for example the U.S.) to give help and support to countries in need of large corporations and businesses, to further support their economy and in the end getting rid of child labor. Modernization Theory maintains that nations achieve influences by developing advanced technology. This process depends on a culture that encourages innovation and change towards higher living standards. This theory claims that wealthy nations can help poor nations by providing technology to control population size, increase food production, expand industrial and information economy output by providing foreign aid to pay for new economic development (Macionis 325). Corporations from the U.S. have tried to help develop foreign industries to improve their economic stand point in their country; but this primarily depends on the importance of our up to date technology and the ability of the U.S., as well as a number of social changes, which would be coming to a decision and deciding whether it’s a good idea to go and change industries and companies around the world. Dependency Theory maintains that global wealth and poverty were created by the colonial process beginning 500 years ago that developed rich nations and underdeveloped poor nations. This capitalist process continues today in the form of neocolonialism – economic exploration of poor nations by multinational operations. Dependency theory claims three key factors, export oriented economies, a lack of industrial capacity and foreign debt, make poor countries dependent on wealthy nations, and prevent their economic development...
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