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Why Immanuel Wallerstein’s Dependency theory is simplistic

Dependency theory or dependencia theory is a body of social science theories predicated on the notion that resources flow from a periphery of poor and under developed states to a core of wealthy states enriching the latter at the expense of the former. It is a central content of the dependency theory that poor states are impoverished and rich ones enriched by the way poor states are integrated into the world system. Some economists like Peter Bauer and Martin Wolf write primarily against the path of dependency theorists. Autonomous path of periphery countries lead to higher corruption, domestic opportunity costs ,lack of competition and sustainability  in these countries. The countries on the periphery of development are not destined to stagnation. So dependency theory is an incomplete and inaccurate description of the socio-economic conditions of low developing countries. There are many dependent countries on the periphery. They do change their economic structure. According to Warren, they have achieved very rapid economic growth.  This theory does not highlight how the countries that follow a dependent development pattern suffer from a variety of economic ills such as regressive income distribution, an emphasis on luxury goods, under utilization and exploitation of human resources, over reliance on foreign firms for capital intensive technology and the perennial problems of poverty and unemployment. This theory has no relevance to many nations that are neither in the periphery, nor in the Centre. They are called semi periphery countries.

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