Addressing The Criticisms Of Modernization Theory And Globalization

Addressing the Criticisms of Modernization Theory, Dependency Theory and Globalization Theory Low-income countries are the ones that are mostly affected due to the lack of industrialization, and their global economic standing can be improved through an adjustment of cultural values and attitudes to work industrialization and other forms of economic growth According to modernization theory. There are points made known by the critics of modernization theory, dependency theory and globalization theory about the inherent ethnocentric bias of these theories. For instance, supposing all countries has the same resources and is capable of following the same path. In addition to that, the assumption of the critics is that, the aim and objective of

Cheap minerals, agricultural commodities, and cheap labor are been supplied by the dependent states which also serve as the surplus capital and a storehouse for the wealthy countries and, old-fashioned technologies, and manufactured goods. These functions orient the economies of the dependent states toward the outside: money, goods, and services do flow into dependent states, but the allocations of these resources are determined by the economic interests of the dominant states, and not by the economic interests of the dependent state. This division of labor is ultimately the explanation for poverty and there is little question but that capitalism regards the division of labor as a necessary condition for the efficient allocation of resources (Ferraro,

It has also been found sometimes that both the theories are antagonistic to each other regarding their views about the international relationships and the development of the world too. There are major differences between the two theories especially in relation to the connection between the developed and developing nations. In fact it has been noticed that the major differences between the Modernization Theory and Dependency Theory exist from the origin of the Dependency Theory itself which have been created in response to the Modernization Theory (Theory, Dependency Theory v. Modernization, 2007). When we do the analysis of the differences between the two theories the major difference which is found is that the Modernization Theory views the world development and the association between the developing and the developed countries is that of potentially equal countries and these countries are at different stages of development at present. To state it more accurately Modernization Theory specifies that and is very much fixed about the fact that the Western nations are well- developed. According to the Modernization Theory the western ways of development are found to be very successful and thriving and it supports the perspective that there is no other alternative way of development which exists (Comparison, Contrasts and Similarities,