ABSTRACT
The radical theory of development fundamentally disagrees with the conventional view regarding both the cause and cure of underdevelopment. The conventional view posits an essential similarity between the development problems of the Less Developed Countries’ today and the problems successfully mastered by the now rich states in earlier periods. It may seem surprising that even foreign aid is regarded with suspicion in the radical theory. Even the celebrated Green Revolution does not escape suspicion in the radical theory. Radical analysts are divided as to whether the food production advantages of the new methods are sufficient compensation for the new form of trade dependence. While the conventional theorist views the multinational corporation as an agency for the transfer of capital and technology for the betterment of the developing countries, the radical theorist sees it as an instrument of foreign control extracting exorbitant profits.
