How does dependency theory differ from modernization theory? Describe the ways these two theories complement or clash with one another. Which theory do you think best describes the current world economy?

Modernization theory will boost economy of all countries while dependency theory will make poor economies colonized under the technology drive of western world

Explanation:

As per the Modernization theory, the higher will be the intervention of technology in our lives, the higher will be the increase in wealth across the globe. This will eventually improve the condition of low-income nations. While on the other hand Dependency theory states that technology intervention led to increase in wealth of few countries only. It can also be perceived that technology drive of western world has colonised the poor economies once again the way it used to be in pre world war era.

In current scenario, the dependency theory seems to be more convenient because as perceived the gain in wealth of low income countries has not increased with a pace as expected. Technology has boosted the economy of  developed and developing countries majorly

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