The Dependency Model of Latin American Underdevelopment: Three Basic Fallacies

Abstract

This article attempts to examine the set of propositions loosely known as the dependency model of Latin American underdevelopment. The dependency model attributes such underdevelopment to the economic expansion of highly developed capitalist countries, particularly the United States. The model was first elaborated by Latin American economists and has subsequently acquired numerous adherents in the United States, especially among younger political scientists.The basic premise of the dependency model is that the economic development of Latin America has been determined and limited by the needs of the dominant economies in the world capitalist market. Because they are thus conditioned and limited, the Latin American economies are described as “dependent.”