ABSTRACT
The development theory in vogue is neoextractivism, which is understood as a constituent element in the deepening of center-periphery imperialist relations in the natural resources rich peripheral capitalist countries in the Latin American and Caribbean region. Neoextractivism is the current attempt to bring about peripheral capitalist development, which is adjoined and cannot be divorced from the litany of theoretical formulations on the economic development of the region. The neoextractivism ideal that marries social protection and social development might be traced to the 'laissez faire' doctrine at the time of the early beginnings of political economy. It is an idea that rests on the doctrine of the natural rights of the individual. The social contract however limits the natural freedom of the individual insofar as such freedom may be in conflict with the rights of others. Political change is inspired by foreign intervention as the imperialist forces regain control over the natural resources rich peripheral capitalist countries.
