Editing Dependency theory (section)

==Other theorists and related theories==
Two other early writers relevant to dependency theory were [[François Perroux]] and [[Kurt W. Rothschild|Kurt Rothschild]]. Other leading dependency theorists include Herb Addo, [[Walden Bello]], [[Ruy Mauro Marini]], [[Enzo Faletto]], Armando Cordova, Ernest Feder, [[Pablo González Casanova]], [[Keith Griffin (economist)|Keith Griffin]], [[Kunibert Raffer]], [[Paul Singer (economist)|Paul Israel Singer]], Walter Rodney and Osvaldo Sunkel. Many of these authors focused their attention on Latin America; dependency theory in the Arab world was primarily refined by the Egyptian economist [[Samir Amin]].<ref name=":0">{{Cite journal|last=Tausch|first=Arno|date=2003|title=Social Cohesion, Sustainable Development and Turkey's Accession to the European Union: Implications from a Global Model|url=http://alternativesjournal.net/article/view/5000159492/5000143927|journal=[[Alternatives: Turkish Journal of International Relations]]|volume=2|issue=1|archive-url=https://web.archive.org/web/20160827004744/http://alternativesjournal.net/article/view/5000159492/5000143927|archive-date=27 August 2016|ssrn=977367}}</ref>

Tausch,<ref name=":0" /> based on works of Amin from 1973 to 1997, lists the following main characteristics of periphery capitalism:
#Regression in both agriculture and small scale industry characterizes the period after the onslaught of foreign domination and colonialism
#Unequal international specialization of the periphery leads to the concentration of activities in export-oriented agriculture and or mining. Some industrialization of the periphery is possible under the condition of low wages, which, together with rising productivity, determine that unequal exchange sets in (double factorial terms of trade < 1.0; see Raffer, 1987){{full citation needed|date=December 2019}}
#These structures determine in the long run a rapidly growing tertiary sector with hidden unemployment and the rising importance of rent in the overall social and economic system
#Chronic current account balance deficits, re-exported profits of foreign investments, and deficient business cycles at the periphery that provide important markets for the centers during world economic upswings
#Structural imbalances in the political and social relationships, inter alia a strong '[[wikt:comprador|compradore]]' element and the rising importance of state capitalism and an indebted state class<ref name=":0" />

The American sociologist [[Immanuel Wallerstein]] refined the Marxist aspect of the theory and expanded on it, to form [[world-systems theory]]. World Systems Theory is also known as WST  and aligns closely with the idea of the "rich get richer and the poor get poorer". [[Immanuel Wallerstein|Wallerstein]] states that the poor and [[Periphery countries|peripheral]] nations continue to get more poor as the developed core nations use their resources to become richer. Wallerstein developed the World Systems Theory utilizing the Dependence theory along with the ideas of Marx and the [[Annales school|Annales School]].<ref>{{Cite web|url=https://web.mit.edu/esd.83/www/notebook/WorldSystem.pdf|title=World Systems Theory}}</ref> This theory postulates a third category of countries, the ''semi-periphery'', intermediate between the core and periphery. Wallerstein believed in a tri-modal rather than a bi-modal system because he viewed the world-systems as more complicated than a simplistic classification as either core or periphery nations. To Wallerstein, many nations do not fit into one of these two categories, so he proposed the idea of a semi-periphery as an in between state within his model.<ref>{{harvnb|So|1990|pages=169–199}}</ref> In this model, the semi-periphery is industrialized, but with less sophistication of technology than in the core; and it does not control finances. The rise of one group of semi-peripheries tends to be at the cost of another group, but the unequal structure of the world economy based on unequal exchange tends to remain stable.<ref name=":0" /> Tausch<ref name=":0" /> traces the beginnings of world-systems theory to the writings of the Austro-Hungarian socialist [[Karl Polanyi]] after the [[World War I|First World War]], but its present form is usually associated with the work of Wallerstein.

Dependency theorists hold that short-term spurts of growth notwithstanding, long-term growth in the periphery will be imbalanced and unequal, and will tend towards high negative [[Current account (balance of payments)|current account]] balances.<ref name=":0" /> Cyclical fluctuations also have a profound effect on cross-national comparisons of economic growth and societal development in the medium and long run. What seemed like spectacular long-run growth may in the end turn out to be just a short run cyclical spurt after a long recession. Cycle time plays an important role. [[Giovanni Arrighi]] believed that the logic of accumulation on a world scale shifts over time, and that the 1980s and beyond once more showed a deregulated phase of world capitalism with a logic, characterized - in contrast to earlier regulatory cycles - by the dominance of financial capital.<ref name=":0" />