economic development occurs when economic markets are free from gov't constraint
Dominant Paradigm. A market-oriented theory; poor countries should drop traditional values for more "modern" values
economic inequality stems from direct exploitation of poor nations by wealthier ones.
-colonialism created misdevelopment
World Systems Theory
Global inequality derives from the different contributions countries make to the world economy (core, semi-peripheral, and peripheral types)
there's appropriate gov;t policies that contribute to growing wealth of countries (East Asian Example)