Dependency redivivus: the relevance of dependency theory in understanding contemporary capitalism and the crisis in Europe /

Thesis Type: Postgraduate

Institution Of The Thesis: Middle East Technical University, Faculty of Economic and Administrative Sciences, Department of Political Science and Public Administration, Turkey

Approval Date: 2015

Thesis Language: English

Student: Ayşe Savaş



Following the 2008 Economic Crisis, it has become apparent that some countries, while they had been applauded to be developing for decades, were far from becoming part of the developed core of the capitalist world economy. While it was shelved during for the most of last thirty year, Dependency Theory proposes a good explanation for the situation of these countries. In this thesis, it was argued that contemporary capitalism and the post-2008 situation in Europe can be explained with Dependency Theory and the development certain late industrializers have shown can be identified as dependent development. Following a revisiting of the original works within the scope of dependency analysis, theories on capitalist expansion and how it generates inequality are presented. The role of the state is briefly discussed before going into the cases of Eastern Europe and Greece.