Modernization theory and economic growth essay

Modernization theory and economic growth essay Definition and main principles of modernization theory This theory suggests that the poor countries with low level of development can be turned to their growth with the same procedures that were used from the experience of growth in highly developed countries. It views the countrys social elements that support social development and progress of societies, and also explains the methods of social evolution. The theory emphasizes the way of modification, and also explains what results could be received of that modification. Apart from this, it views the societys domestic features describing the method of remodeling to the new directions of living. The domestic situations of any society affect the modernization process. For example, a country with huge governmental corruption is not able to progress efficiently in terms of modernization. Needless to say that it harms the countrys productivity and economics, and as a result, resources and money of such country will go away to countries that have more suitable investment conditions. This reas on slows the mechanism of modernization down, so the country starts to have domestic conflicts to help the modernization process due to deficit of resources. Over the years, the process of modernization is accelerated by globalization process because the world is integrated on economic, political and social levels. Modernization can motivate the development of global economy that means better recovery of resources and production. Of course the intrusion of new technologies and modern mechanisms should be accepted by people, and without doubts, it causes changes in society. People that become more greeting to such transformations and usage of modern resources, contribute to modernization process. But along with the positive effect of modernization, it has its negative affection: it causes over population (mostly in urban areas), high pollution, increased level of crime, and gaps in the society. Criticism of the theory: why its not so perfect The theory has got a lot of criticism because people argue that some high developed countries, including USA, have higher values compared to many other countries. The modernization theory doesnt view the relationships between those countries which influence their social and economic conditions. According to the principles of the theory, highly developed countries should let the healthy rivalry take full responsibility in the economy. They say it stimulates the economic progress of free markets. But some critics dispute with this because they think its totally impossible to manage free markets efficiently. People also criticize this theory for its Eurocentric just because it doesnt take into account the fact about different countries cannot be developed at the same speed.