Ronen Palan: The new Dependency Theory

Another fascinating article from Professor Ronen Palan of City University. Read the whole thing, but the flavour is perhaps best extracted from this section:

In contrast to old dependency theory, the new theory suggests that capital transfers do not necessarily operate on a regional or intra-national basis; rather, wholesale global financial markets have emerged as gigantic re-distributive machines that play a key role in the continuing and growing gap between rich and poor world-wide.

With the help of such thinkers, the world is waking up. Read the whole article. It's really worth it.