Theories of development

• Who developed the theories of development discussed in the material?

  Rostow and Frank
• What do Rostow's theories explain about countries?

  How countries develop or don't develop
• What are the five stages of economic development according to Rostow?

  1. Traditional society
  2. Preconditions for take-off
  3. Take-off
  4. Drive to maturity
  5. Age of high mass consumption
• What does Rostow's modernisation theory predict about a country's economic development?

  It changes over time
• How does Rostow's theory describe a country's economy's transition?

  From primary to secondary and tertiary industries
• What is the lowest level of development in Rostow's stages?

  Stage 1: Traditional society
• What is the highest level of development in Rostow's stages?

  Stage 5: Age of high mass consumption
• What characterizes Stage 1: Traditional society?

  • Subsistence farming
  • Limited trade
  • Low technology
• What characterizes Stage 2: Preconditions for take-off?

  • Development of infrastructure
  • Beginning of manufacturing
  • International trade starts
• What characterizes Stage 3: Take-off?

  • Rapid industrial growth
  • Investment in manufacturing
  • Increased urbanization
• What characterizes Stage 4: Drive to maturity?

  • Diversification of industries
  • Technological advancements
  • Higher standards of living
• What characterizes Stage 5: Age of high mass consumption?

  • High levels of consumer goods production
  • Widespread wealth
  • Service-oriented economy
• What does Rostow's theory suggest about people's standard of living over time?

  It improves as development progresses
• What does Rostow's theory imply about the dependency of poorer countries?

  They rely on richer countries
• How does Frank's dependency theory differ from Rostow's model?

  It emphasizes exploitation of poor countries
• What does Frank's theory suggest about poorer countries' economies?

  They remain poor due to dependency
• What is the relationship between core and peripheral countries in Frank's theory?

  Core countries exploit peripheral countries
• What does Frank's theory suggest about the periphery's economic status?

  It remains poor and dependent
• What is a key concept of Frank's dependency theory?

  Exploitation of poorer countries by richer ones
• How do Rostow's and Frank's theories view economic development differently?

  Rostow sees it as linear; Frank sees it as cyclical
• What is the implication of Rostow's theory for policy-making in developing countries?

  Focus on infrastructure and industrialization
• What does Frank's theory suggest about the role of international trade?

  It perpetuates dependency of poorer countries
• How do Rostow's and Frank's theories address the issue of poverty?

  Rostow focuses on stages; Frank on dependency
• What is a criticism of Rostow's model?

  It oversimplifies complex development processes
• What is a criticism of Frank's dependency theory?

  It may overlook internal factors affecting development
• How can both Rostow's and Frank's theories be applied in real-world scenarios?

  To inform development policies and strategies
• What is the significance of understanding these development theories?

  They guide economic policy and development strategies
• Which countries are described as more developed?

  Countries that are more developed
• What does the theory suggest about poorer countries?

  They remain poor due to dependency on richer countries
• Why do poorer countries remain poor according to the theory?

  They depend on core countries for resources
• What historical period does the theory associate with ongoing exploitation?

  The colonial period
• What is neo-colonialism as mentioned in the text?

  Continued exploitation after colonialism
• How do richer countries dominate trading systems?

  By maintaining control over trade practices
• What do richer countries do to maintain their dominance?

  They exploit poorer countries' resources
• What do poorer countries need to do according to the text?

  They need to import manufactured goods
• What is the impact of dependency on richer countries for poorer nations?

  It traps them in poverty
• What do some people believe about the relationship between poorer and richer countries?

  They believe dependency hinders development
• What is a consequence of remaining part of the capitalist system?

  Inability to develop independently
• What do richer countries do to poorer countries in local politics?

  They interfere to maintain control
• What financial strategy do richer countries use with poorer countries?

  They loan money at high-interest rates