Latin American Dependency School

The Latin American Dependency School is a theoretical framework that explains economic development in Latin America by highlighting its historical and ongoing reliance on developed countries. It suggests that Latin American nations have been kept dependent through global economic structures, such as exporting raw materials and importing finished goods, which limits their ability to develop independently. This dependency creates a cycle where local economies remain under the influence of external powers, hindering sustainable growth and development. The theory emphasizes the importance of reducing dependence and promoting self-sufficient, diversified economies for genuine progress.