What is the key characteristic of Modernization Theory of Development?

Correct option is C

Modernization Theory suggests that the path to development involves the transformation from traditional agricultural societies to modern, industrial ones. This theory highlights industrialization, technological advancement, and economic growth as the primary drivers of development. The idea is that with the right policies, countries can accelerate economic growth, reduce poverty, and improve their overall development by embracing modernization and industrialization.
Information Booster:
Modernization Theory, often associated with scholars like Walt Rostow and others, argues that all nations can follow a similar path to development as the Western world, moving through stages of growth characterized by shifts in economic structure (from agrarian to industrial economies). It advocates for the rapid expansion of industrialization, urbanization, and technological innovation to boost national economies. Essentially, the theory holds that industrialization leads to greater efficiency, better standards of living, and more opportunities for economic and social progress.
Additional Knowledge:
· (a) Focus on global inequalities and exploitation: This describes a more critical view of development, typically associated with Dependency Theory or World-System Theory, which argues that inequalities and exploitation are intrinsic to the global economic system and hamper development.
· (b) Emphasis on traditional values and indigenous knowledge: This perspective aligns more with Alternative Development Models, which emphasize the importance of local culture, sustainability, and non-western forms of knowledge rather than a blanket push for industrialization as in Modernization Theory.
· (d) Focus on individual capabilities and freedom of choice: This aligns with Capability Approach (developed by Amartya Sen), which emphasizes individual freedom, choices, and the importance of human development, rather than focusing solely on economic growth or industrialization.