COMPARE AND CONTRAST THE CORE PRINCIPLES OF MODERNISATION AND DEPENDENCY THEORY:

Modernization:  is the process of social, economic and cultural transformation in which a country evolves from the underdeveloped status to a modern society following the prescriptions from the MDC's.  

* the theory believes that poor countries are poor because of their failure to let go tradition-oriented cultures and internal factors such as the resistance to free market principles or western values. 

*Rostow's model of development is used as a modernization theory in which societies undergo linear transformation along a development continuum of economic and social change from traditional to modern. Countries have to adapt the experiences of the MDC's to beome one. Economic growth is indicated as GDP making development and growth to be seen as the same thing. Modern and traditional societies reflect a dual economy which will exist side by side. The theory assumes the development of growth will diffuse from MDC's to the LDC's. The dual economy (traditional and modern ) will be eliminated and replaced by the single independent system(modern state).

Dependency Theory   was originated in the 1960's as the result of the failure of modernisation theory to address the underdeveloped of the third world countries. 

*It challenged the principles of modernization  theories that countries fail because they lack values from the first world countries. The traditional dependency theory was popular in the  1960's and 70's, it can still be used to explain global inequalities. Dependency Theory focuses on the origins and subsequent development of underdevelopment. It advances that all contemporary societies are intergrated into a single world economic system- Capitalist. The theory agrues that the third world countries are poor because they have been and still exploited by the first world countries and this exploitation evolved from colonialism.