PO220 Lecture Notes - Lecture 3: Paul Samuelson, Modernization Theory, Walt Whitman Rostow
Document Summary
In 1940"s,50"s60"s across africa and asia there were many countries that had been colonies that are now independent. U. s. was a strong component of independence for countries like asia and africa. Modernization theory developed largely in the united states. Arguments of modernization theory (1) universal path (2) speed; evolved technology would make it faster. Modernization theorists argued that there was one single universal path to development. Path is shown in advanced developed industrialized countries of the north. Set stages to development that you must go through (fixed path) Took a long time for countries in the north to develop (in the north - rural to urban) Entirely possible for all nations to reach this level of advancement (argument that is widely contested, been shared with modernization theory) Paul samuelson - comparative advantage comparative advantage is a key component to modernization theory. He did not come up with the theory - but he applied it to north - south development relations.
