development theories Flashcards
rostow's modernisation theory and criticism, frank's dependency theory and criticism
what were the name of the two development theories
rostow’s modernisation theory
franks dependency theory
where did rostow’s modernisation theory come from
- economic development experienced by Western Europe and North America
- money from developed countries should be given to developing countries to encourage development
- countries move from underdevelopment to development in 5 easy stages too
what are the stages of RMT
stage 1 - TRADITIONAL SOCIETY
- jobs –> agriculture (could produce surplus - subsistence)
stage 2 - PRE TAKE OFF SOCIETY
- moving from farming to manufacturing
- trade increases profit invested into industry etc
stage 3 - TAKE OFF STAGE
- rapid growth
- investment + technology create new manufacturing industries
- take off requires investment from profits from trade
stage 4 - DRIVE TO MATURITY
- period of growth
- lots of technology
- industry produces consumer goods
stage 5 - AGE OF MASS CONSUMPTION
- comfort period
- customers enjoying goods
- society spends wealth on whatever
RMT criticism
- old (1660)
- based on europe + western america (not worldly applicable)
- assumes all countries start with the same climate/resource/terrain
- no detail about history
where did frank’s dependency theory come from
- very critical of capitalism
–> capitalism system of world trade benefits developed more than developing - rich countries sell manufactured goods & services at high prices to developing countries and developed buys raw material from poor countries for cheaper price - country’s became rich at the expense of developing countries exploiting natural resources (neo-colonialism)
stages of FDT
periphery (developing):
selling core cheap raw materials
core (developed): manufacture these and sell them much more expensive to other developed countries