Abstract 

In the era of globalization, understanding the interrelationship among different nation-states is extremely relevant for   policymakers and leaders of the world. Dependency theory is one such theory that assists us to understand the complex   intricacies of this world in a better way. The paper focuses on the analysis of dependency theory and its tool to explain   the structure of global economy. Raul Prebisch's 1960s research popularised dependence theory. Prebisch found that   wealthier countries' gains hurt poorer ones. Dependency theory is founded on a Marxist worldview that sees globalization   as the growth of market private enterprise and the abuse of shabby labor and possessions as the West's historical   achievements. Dependency theory promoted an inward-looking approach to growth and a bigger role for the government   in removing barriers to exchange, making internal ventures difficult, and nationalizing significant enterprises. The paper   attempt to measure the merits and demerits of dependency theory in understanding the structure of the global political   economy. 

Keywords 

Dependency, Global Economy, Policy Making, Global North, Global South

Citation (APA Format)

Vang-Phu, T., & Dar, M. A. (2022). Understanding the global political economy using dependency theory. Journal of Politics, Law, and Management, 1(1), 1–6.