Modernization Theory and third world countries
Modernization Theory and third world countries The development of the Modernization Theory was a direct result from three main posts? ... Second, the growth of a worldwide communist movement put further pressure on the United States to prevent a communist “domino” conquest of the world. Third, the process of decolonization in Africa and Asia as an outcome of the disintegration of the former European colonial empires encouraged the US to devise ways of promoting capitalist economic development and political stability in these new states to prevent the spread of communism. The Modernization Theory, based on the Evolutionary Theory and the Functionalist Theory, originated during the 1950s and emphasized internal factors as the cause for global inequality. The theory proposed that two types of nations exist - traditional and modern - and that traditional countries possess the capability of transforming from developing to developed status, notably through trade, with the help of modern states, the economy is dominated by subsistence activity where output is consumed by producers rather than traded.