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In order to understand the most important differences between the modernization theory and the dependency theory, we must first understand what these theories mean. Modernization theory is the process of transforming from a traditional or underdeveloped society to a modern Western societies way of life. So what is modernization and what does this theory consist of? To put it simply, modernization is the economic growth within societies. The modernization theory believes that there are steps to success for every country. The Dependency theory emerged in the 1960s but became popular in the 1970s.
This theory also, addressed such issues as poverty and economic underdevelopment throughout the world. The dependency theory, believed that the Global North exploits the Global South. According to dependency theory, underdevelopment is a product of capitalist development. However, the question if have these theories evolved throughout the years?
The modernization theory has changed over level of three waves. The second wave of the modernization theory was popular during the 1970s and 1980s. It didn’t support, rather it criticized the influence of Western modernization. Western countries are more advanced in all social and economic areas due to which they are considered world leaders. According to Harrison the gap between the North and South is increased due to religion as it influences the ethical system in place, which in effect, becomes a limitation for development.
Since the third world has to depend on the West, that is seen to limit its growth and enlarge the gap between them. Pakistan’s current socio economic woes? A country plagued by a myriad of critical issues, Pakistan’s deepening woes have dented its image in the social and economic strata. Development’ meant economic growth and industrialisation. About 50 years ago, many countries around the world—freshly decolonised and newly named underdeveloped or developing, embarked on varying projects of national development. Some began to develop indigenous industries for export, others stepped up industrial production to substitute for imports.
West or with standards almost entirely set by West-centric institutions for a country to be deemed developed. Accompanying this frenetic activity was the project of modernisation. State apparatus to preside over the decolonised domain. Socially, the transition from a rural to an urban society will bring a change in values.
People would begin to participate in voluntary organizations which only an authentic democracy requires. A middle class would emerge to play a progressive and economic role in society. The social, economic and political outcomes of a dependant economy are negative. Social inequality will appear and the different classes will become further and further apart. Economically Latin America would depend on foreign markets, which “during the 20’s a depression occurred.