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SOCB47H3 (73)
Lecture

Week 10 Lecture Notes

2 Pages
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Department
Sociology
Course Code
SOCB47H3
Professor
Vanina Sztainbok

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SOCB47H3S LEC 10
Modernization Theory (Pro capitalist)
Lack of technology causes poverty
thus term underdeveloped
Dependency Theorists (Marxist)
Capitalism, colonialism and imperialism cause third world poverty.
Wealth of first world based on exploitation of developing nations.
Creates cycle of dependency through loans.
This theory looks at the interconnections between nations, ie. part of globalization.
Neo-liberalism:
A political-economic philosophy
Big business should have free reign
Supply and demand should regulate the economy
Policies: free trade agreements, structural adjustment policies (IMF, World Bank).
Poor nations need to tighten their belts and pull themselves up by the bootstraps.
Meaning reduce government services and spending in social provision.
World Systems Theory:
Globalization ongoing for 500 years
Global capitalism always means exploitation of some nation(s) by others.
Inequality of nations will not end until capitalism is overturned
An argument similar to Marx
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Description
SOCB47H3S LEC 10 Modernization Theory (Pro capitalist) Lack of technology causes poverty thus term underdeveloped Dependency Theorists (Marxist) Capitalism, colonialism and imperialism cause third world poverty. Wealth of first world based on exploitation of developing nations. Creates cycle of dependency through loans. This theory looks at the interconnections between nations, ie. part of globalization. Neo-liberalism: A political-economic philosophy Big business should have free reign Su
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