Answer :
Answer:
Core-Periphery Structure: Dependency theory posits a global structure characterized by a division between core and periphery countries. Core countries (typically Western industrialized nations) dominate and exploit peripheral countries (typically former colonies or developing nations). The core countries concentrate economic power, technology, and wealth, while periphery countries supply raw materials and cheap labor.
Historical Context of Underdevelopment: Dependency theorists argue that underdevelopment in peripheral countries is not a natural state but rather a result of historical processes, including colonization and exploitation by core countries. Colonialism and later forms of imperialism are seen as central to the creation and perpetuation of underdevelopment.
Unequal Exchange and Dependency: Dependency theory emphasizes unequal exchange between core and periphery countries. This exchange is characterized by the extraction of surplus value from periphery countries to core countries through mechanisms such as terms of trade, international debt, and unequal access to technology and markets.
Structural Dependence: Peripheral countries are structurally dependent on core countries due to economic relationships that perpetuate their subordinate position. This dependency is not just economic but also political and social, reinforcing the global hierarchy.
Limitations of Dependency Theory:
Neglect of Internal Factors: Dependency theory tends to emphasize external factors (core-periphery relations) at the expense of internal factors within peripheral countries. It overlooks how domestic policies, institutions, governance, and cultural factors also contribute to underdevelopment.
Simplistic Core-Periphery Dichotomy: The theory's emphasis on a rigid core-periphery dichotomy can oversimplify complex global economic relationships. In reality, countries may occupy intermediate positions and engage in various forms of economic interaction beyond simple exploitation.
Limited Prescriptive Power: Dependency theory offers a powerful critique of global inequality but provides limited guidance on how peripheral countries can effectively achieve development. It focuses more on diagnosing the problem rather than proposing actionable solutions.
Explanation:
Explanation:
The premises of dependency theory are that: Poor nations provide natural resources, cheap labour, a destination for obsolete technology, and markets for developed nations, without which the latter could not have the standard of living they enjoy.
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