Marxist Theory
Unlike the Stage Theories or the Structural Change Models of economic development, which considered underdevelopment as a result of internal constraints such as insufficient savings, investment or lack of infrastructure, skill or education, the proponents of the Neocolonial Dependence model portray third world underdevelopment as an externally induced phenomenon.
According the theory of Neocolonial Dependence, rich countries hurt the developing countries through their intentionally exploitative or unintentionally neglectful policies. The rich countries and a small elite ruling class in the developing countries, who serve as the agent of the rich countries, are responsible for the perpetuation of underdevelopment in the developing countries.
Read more about this topic: Neocolonial Dependence
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