Dependency theory is a sociopolitical and economic theory that emerged in the late 1950s and early 1960s as a critique of traditional development theories. It argues that the development of poor or developing countries is hindered by their economic and political dependency on wealthier nations. According to this theory, underdeveloped countries are economically exploited and controlled by more powerful nations through a complex network of unequal trade, foreign investment, and political dominance. The unequal relations of dependency perpetuate poverty, underdevelopment, and inequality in the Global South, while benefiting the wealthier nations of the Global North. Dependency theory suggests that breaking free from this dependency requires restructuring social, economic, and political systems, and promoting self-reliance and economic independence.
