No Development Origin Key feature Key Critiques Which countries

theories arguments implemented the

theory
1 Modernization. It begins in Industrialization every society Ignoring the U.S. foreign
theory mid-20th Urbanization goes through role policy during
century Rise in national five stages of of culture and the Cold War
and per capital economic , era.
Income development history,
Rostow
(1960
2 Dependency theory developed in Control of the Core country Lack of Latin American
early 1960 as resources of the always competition Countries
per the poor nations imported raw Lack of African Nations
guidance of leading to more material competition Asian Nations
the Director of dependence, from 3rd Sustainability
the United and control of a world
Nations nation’s countries
Economic economic
Commission choices
3 World system Originated in Revolution World inter Core Netherland
theory 1970s, though transportation connected countries USA
earlier Marxist technology and inter focus on UK
theories first Individual. dependent higher skill
proposed
State can gain with a core country
similar ideas.
and lose their certain core exploiting
core countries periphery
dominated resources
and
exploiting
periphery.
Countries’.
For the
resource

4 Neo liberalism In Free market Promoting Neoliberalism

theory mid20century capitalism private is that free USA
traced back De regulation ownership markets lead Kenya
to the work of Privatization of to economic
economist properties growth,
such as and free efficiency,
Friedrich markets. and
Hayek prosperity for
all.
Proponents
argue that
reducing
government
intervention
5 Liberalism British  Supporting international that USA
theory nation John private relations; it laissez-
Locke property and questions faire UK
(1632- individual security/warfare capitalism Kenya
1704) was rights. principles of realism does not
the first to necessarily
develop a  driven by the produce
liberal self-interest of the best or
philosophy, individuals most
existed in efficient
Eastern outcome,
philosophy
since the
Chinese
6 Neo Classical Emerged in 19 To maximize personal Organizations. ... system
Theory century Adam satisfactions concerns Human beings imbalances
smith and personal. Satisfaction rather are supply and
David Ricardo than government interdependent. demand in
intervention ... each market,
Motivation is a highly including the
complex process. labor market,
hence there is
no place for
in voluntary
7 classical focuses on Economic growth and Ricardo argued that it
post-1945 wealth creation. Divisions made more sense for
development of labor describes the countries to specialize in
theories and breaking up of the this way, rather than
policies, it is production trying to produce
important to everything, because
recognize that through specializing,
these ideas production
did not
appear in an
intellectual
vacuum,
8 Post Post- Constructed by experts in The persistence poverty Emphasis on
development development Western countries & inequality are the plurality
theory theory which who've tried to impose perceived as evidence to of knowledge
arose in the the failure of and rejection
their beliefs on the
1990s development. of the idea
developing world (i.e. that Western
they are a form of
Eurocentric discourse).
9 Developmental. originated in Strong government Successful economic Lack of Korea, Taiwan,
State theory the 1980s as a intervention Bureaucratic development requires a inclusivity and Singapore
way of capacity intervention proactive and Potential for
explaining the Collaboration with business interventionist state that corruption
rapid is able to steer the and rent-
economic economy in a direction seeking
growth that promotes growth
development and industrialization.