The sociology of development has undergone significant changes since modernization theory attempted to explain the relative prosperity and poverty of nation-states. This article provides and overview of the major approaches to development theory, beginning with modernization theory and including dependency theory, world systems theory and neoliberalism. Additionally, this article compares each theory, while identifying the key assumptions, relevant unit of analysis, the main causal relationships, and relevance of history for each.
|Keywords:||Development Theories, Modernization Theory, Dependency Theory, World Systems Theory, Neoliberalism|
Assistant Professor of Business, Woodbury School of Business, Utah Valley University, Lehi, Utah, USA
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