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Satelite or Peripheral countries: Term used by Frank to describe developing countries highlight the dependency on core countries.
Primary Products: Crops and mineral extracts.
Tariffs: taxes
Proletarianization: the social process whereby people move from being either an employer, unemployed or self-employed, to being employed as wage labour by an employer - most important form of downward social mobility.
- Too economistic
- Bergsen (1990): argues that it was military conquest and political manipulation of local peoples that imposed economic dependency on developing nations rather than the logic of capitalism.
Polarization - segregation within a society that may emerge from income inequality, economic restructuring, etc. and result in such differentiation that would consist of various social groups.
In Marxism polarization refers to widening gap between the bourgeoisie and the proletariat, this approach leads to the proletariat being ostracized from society and as a result they may seek the need for a socialist revolution.
- Vague
- Criticised by modernization theory: neglects the importance of internal factors such as cultural factors, in the failure of LDC's to develop. For example, his critics point out that he ignores the corruption of LDC elites and their wasteful spending
Explains development in terms of the ever-changing economic relationships between countries in the modern world system.
-Aims to analyze capitalism and explain global inequality.
-Influential
-First to acknowledge the globalization of the world
-International Division of Labour = global inequality
-Looks as the the development as a whole (the world)
-Theory is highly abstract
-Vague in definitions of concepts such as "core" "peripheral" and so on.
-Cannot be measured or tested
Fails to acknowledge that specialisation in low-tech production may produce profits in the short term. However, countries fail to develop industry and sophisticated technology that could lead to greater profits in the future and therefore may not continue developing.
Dependency: the state relying on more powerful countries for investment, trade, aid, debt etc.
Imperial: Empire - building
Metropolis and Core nations- Developed world
Neo-colonialism- the use of economic, political, cultural, or other pressures to control or influence other countries, especially former dependencies.
-Colonilism: the policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically
-Commodification: applying an economic value to a range of human activities, "attaching a price to everything".
-De-skilling:breaking down occupation skills into simple tasks.