Development Discourse of the Globalists and Dependency Theorists: do the globalisation theorists rephrase and reword the central concepts of the dependency school?

Abstract This paper discusses the discourses of the globalisation theorists and dependency scholars in respect of their views on development and underdevelopment. The paper argues that there are underlying similarities between the central concepts of the dependency approach and globalisation theories. Some of the globalisation theorists come remarkably close to the central concepts of the dependency theories by rewording and rephrasing the same concepts but colouring them with different ideological hues. Neither classic development theory nor dependency theories have full explanatory power with respect to the current order of global economic relations. The branch of globalisation theories which has historical roots in classical development theory has shown resilience, while dependency theories have not totally lost their significance.