Latin American School of Dependency Theory

The Latin American School of Dependency Theory is a perspective that analyzes how developing countries, especially in Latin America, are often economically influenced or controlled by more powerful, developed nations. It argues that this relationship creates a dependency, where these countries rely on exporting raw materials and importing finished goods, which limits their economic growth and development. The theory suggests that this global system benefits rich countries at the expense of poorer ones and calls for structural change to promote fairer, more autonomous development paths.