North American Neo-Marxist approach

 the North American Neo-Marxist approach

 Frank rejected the idea that internal sources cause a country's
underdevelopment; rather, it is their dependency to capitalist system that causes
lack of development.
 It is their dependency to capitalist systems that causes lack of development

Latin American Structuralist Approach

 Palma (1978) noted that the main reason for Latin American's underdevelopment
was the excessive reliance on exports of primary commodities (agricultural
products and food) which were the object of changing process and a downward
trend in the relative value in the long term.
 most Latin American countries adopted strategies nominally conducive to
autonomous, self-sustaining development
 In essence, they sought to diversify exports and accelerate industrialization
through import substitution. High tariff walls were to be erected that would reduce
the region's dependence on foreign manufactures, and thus on the developed
North.

Historical Structural Approach

 Cardoso and Faletto argues that dependency is not a general theory of
underdevelopment but a methodology forthe analysis of concrete situations of
dependency.
 Cardoso and Faletto believed that Latin American economies were the results of
capitalist expansion in the United States and Europe.
 This approach did not just focus on the asymmetrical relations between countries
but also among groups and classes both between and within nation.
 What differentiates it form other approaches is: "the identification of interest
networks - business, technocrats, the military, the middle class - that bins the
dynamics of local political and economic processes to material and political
interests in the industrialized world.
 It saw development as historically open-ended and allowed for the possibility that
the nature of dependent relations could change over time.