GS211 Lecture Notes - Lecture 5: Dependency Theory, World-Systems Theory, Walt Whitman Rostow
Document Summary
Capitalism is just a stage towards socialism. Analysis of modes, means and relations of production. Analyze history to find how latin america became and remains poor. Ecla: economic commission for latin america: la exports raw materials: this creates dependence of world prices, constant recession risk, exploitation of the north internalized. Latifundios form owned by 1 worked by many. Solution: import substitution industrialization: la maintained as neo-colony by the north. Raul prebisch: terms of trade for la are unfavorable. Attract foreign capital and investment to supply national markets not to export everything. Loose group of people not a concrete theory. Economic growth i the way to go but in favor of the poor. History is natural and evolves to the same goal vs concrete historical events. Colonialism is an awakening to modernity vs colonialism is destructive. Competition stimulates innovation vs competition creates inequality.
