Paper Summary:

This paper examines how both dependency theory and Marxist theory suggest reasons why Latin America and similar areas in the world have not achieved the same level of economic development as the developed world and how each theory has then been used as a reason for making changes to effect greater levels of development. It considers the history and political and social structures in Latin America and looks at how the way these theories have affected Latin American economies and their citizens.

From the Paper:

"Development and underdevelopment are seen in terms of dependency theory as part of the same process and not as separate entities. Dependency theory was fashioned to explain the patterns of development in Latin America and held that this development had been conditioned by the incorporation of the region into the capitalist mode of production. The dependency of the Third World on the developed capitalist nations involves an interaction that explains the economic and social-class formations that have emerged in places like Latin America and also the structure of trade, technology, and investment between the developed and the developing world (Topik, 1987, pp. 554-555)."

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