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Dependency theory and Modernization theory

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Why are some countries affluent (wealthy) and others impoverished? Apply Dependency theory and Modernization theory to your response. According to Immanuel Wallerstein and his modern “world-system” theory, nations
benefit unequally from the modern world economic system. Explain what this means and why this happens. Considering his theory, provide specific examples of both economic and social inequality that concentrate the burden of poverty among certain segments of the earth’s population as a result of this “world system”.

Sample Solution

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