Analysis of Cardoso's dependency theory of development in Latin America

Abstract

The purpose of this paper is to analyze the content and development of the dependency theory, its impact and practice in Latin American countries. Dependency theory is considered as the law of economic development for a great majority of developing and underdeveloped countries in the context of globalization, which has evolved greatly in the practice of Latin American countries. The Brazilian sociologist Cardoso is considered a leading figure in dependency theory. In his important work, Dependency and Development in Latin America, Cardoso has modified the classical theory of dependency and emphasized dependency as referring to “the development of the economy under dependency”.