Perpetuation of Underdeveloped Countries (Dependency Model) | Economics
Let us explain the dependency model of the perpetuation of underdeveloped countries based on Marxist thinking. These models are based on colonial exploitation and dependence of poor underdeveloped countries on the colonial powers that ruled them. These models, like Prebisch-Singer models, involve unequal exchange between the rich developed countries and their underdeveloped and backward colonies which remain poor. Dos Santos, [...]