key term - Dependency theory

Definition

Dependency theory suggests that economic disparities between nations stem from the exploitation of poorer countries by wealthier ones, leading to a dependence of the former on the latter. It posits that this dependency impedes the poorer nations' development and sustains global inequality.

Related terms

Imperialism: The policy of extending a country's power and influence through colonization, use of military force, or other means.

Neo: colonialism - The practice of using capitalism, globalization, and cultural forces to control a country, typically former colonies, in lieu of direct military or political control.

Globalization:

The process by which businesses or other organizations develop international influence or start operating on an international scale, often discussed in terms of its effects on cultural and economic practices worldwide