ABSTRACT
Recent challenges to the versions of the theory of imperialism that were popular in the sixties have created an interesting and potentially fruitful debate. Stunting industrialization on the periphery was a prime consequence of imperialism as it was described by Baran, Frank, and a number of Latin Americans known as “dependency theorists.” 1 In direct contradiction to this view is the idea expressed most forcefully perhaps by Bill Warren that the consequence of imperialism is the ever-increasing penetration of the capitalist mode of production in the Third World and that, therefore, imperialism foments industrialization rather than stunting it. 2
