MODERNIZATION THEORY:

The process of social, economic, and cultural transformation which a country develops from an underdeveloped country to a more developed country like North America and Western Europe.

Modernization theorist believed that an underdeveloped country let go of the tradition – oriented cultures which are seen by modernization theories as backward hindering the process of developing

Modernization theorist believed that poor countries are poor because they still must develop into modern economies and that their process are hinder mostly because of their internal factors such as the countries resistance of free market principles or the absence of westerns values that drive material success

DEPENDENCY THEORIES:

The indecency theory was developed in the 1960s to address the failure of the modernization theorist because of the underdeveloped of the third world countries

The theory challenges the basic tenet of the Modernization theory that countries fall to modernize because they lack the values that first world countries possess which lead to modernization.

Traditional dependency theory can still be used as a tool for explaining global inequalities despite the challenges we faced in the 21st century.

In dependency theory focus on the origin and subsequent development of underdevelopment.
They believed all contemporary societies are integrated into a single world economic system (capitalist)

They argued that poor countries are poor because they are continually exploited by the first world countries.