Neo-Marxist Theories of Development and Dependency

The Neo-Marxist theories surfaced in the 1950s as a counter-reaction to the growth and development theories hypothesized during this period. Marx sought to evaluate the impact of imperialism on the small-scale industrial sector in the colonized states. The author also discusses the Latin American analysis of the trade relationship between industrialized countries and the third world countries. Marx supposes that the British rule was destructive and exploitative in the short run, but it would aid in the transformation of the traditional economies to modern economies in the long term. 

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