Final answer:
Modernization Theory is a transformative concept suggesting that economic growth leads to social progress through increased industry and technology, which may eventually lead to democratic governance. It is often paired against dependency theory, which takes a more critical view on global inequality. Modernization Theory emphasizes industrialization as the key driver of social change.
Step-by-step explanation:
Modernization Theory is a sociological concept used to describe the transformation of societies from less developed to more developed forms. This theory contends that as nations undergo economic growth, they will experience structural changes leading to a more complex industry and advanced technology. The growth in economic power is often linked with increased political representation and subsequent development of democratic institutions, though the direct cause-effect relationship can be debated. It speaks to the evolution of societal values that prioritize hard work, success, and increased specialization and differentiation within social structures. Ethnocentric biases can arise in this assessment, as there are differing views on whether the emulation of developed, core nations by less developed, peripheral nations is universally desirable.
The optimistic perspective of modernization theory suggests that industrialization and technology are the primary drivers, fueling forward movement and progress. However, the theory has been critiqued for being Eurocentric and for potentially ignoring the complexities of global inequality. It is often contrasted with dependency theory, which argues that international exploitation and dependency are key to understanding global disparities, rather than the linear progression implied by modernization.
Ultimately, modernization theory is one lens through which sociologists study global economies, and while it highlights positive aspects of economic growth and technological developments, it is not without its critiques and opponents.