Compare and contrast the core tenets of the modernization and dependency theory

According to the Modernization theory, all societies begin from a common baseline of traditional underdevelopment and undergo a "linear transformation" along the development continuum of economic and social change from traditional to modern. While keeping this in mind it is important to put emphasis on the fact that societies have to transform their traditional ways of operating into modern ways. This can be done by replicating or following the ways of MDCs. At some stage of development, a dual economy will appear (where society makes use of both traditional and modern ways) which will then, later on, be replaced with a single independent state (modern state).

Dependency theory argues that Modernization fails because of the lack of First world country values. This theory also argues that Third World countries are and will remain poor because of the fact that they are exploited by First World countries