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This paper aims to examine the Marxist theory of development critically. The limitation of various development theories in explaining the reasons for underdevelopment in the case of third-world countries creates the significance of the Marxist theory. The perspective provided by Marxists and other new Marxist approaches gives us a new way to examine the existence of both ‘development’ and ‘underdevelopment’ within the same capitalism.
Partha Pratim Borah - (Sat,) studied this question.