Modernization theory

Definition

Modernization theory suggests that economic development leads to cultural and political changes that are essentially similar across different societies. It posits a linear progression from traditional to modern states, emphasizing the benefits of democracy and capitalism.

Related terms

Economic Development: The process by which a country improves the economic, political, and social well-being of its people.

Democracy:

A system of government where power is held by the people, typically through elected representatives.

Capitalism:

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision rather than state control