Monday, May 25, 2020

Modernization Theory Of The Post War Years - 1324 Words

In his inaugural speech in 1949, Truman captured the United States’ optimistic sentiment with regards to development following the Second World War. The United States found themselves in a unique position where they had shown their military and technological prowess, were the only victor whose infrastructure had not been damaged by the war and saw themselves as the technological leader of the world and a model to be emulated. Along with growing fears about Cold War tensions and the threat of communism, the domestic post-war environment contributed to the emergence of the predominant American sociological and economic theory of the post-war years: modernization theory. Though many new theories have emerged since the development of modernization theory, of which Walt Whitman Rostow was one of the leading figures, and it has seen fluctuations in its popularity, it has remained a part of the discourse on development to this day. Over the years, it faced harsh criticism, notably fr om the Latin American dependentistas of which Andre Gunder Frank was one of the main voices. This paper will focus on Rostow’s Stages of Economic Growth and Andre Gunder Frank’s critique of modernization theory in The Development of Underdevelopment and Sociology of Development. These two authors offer a limited view of the broader debate between modernization and dependency theory in the second half of the twentieth century and thus this paper does not claim to be a comprehensive study of these twoShow MoreRelatedThe World Of World War I1293 Words   |  6 PagesPrior to the beginning of World War I, the world economy was held up by four pillars: the gold standard, free trade, communication and transportation, and capital and labor labor mobility. After facing two world wars and a worldwide economic depression, economists and governments from around the world implemented several development strategies. 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