The Myth of Economic Development

This classic work remains one of the most incisive contributions to dependency theory in the Latin American context. While agreeing with other dependency theorists that underdevelopment on the Latin America periphery was structurally connected to the accumulation of capital in the advanced economies at the core of the global capitalist system, Furtado went further and argued that the very idea of development in the periphery is a myth, deceiving countries into focusing on narrow economic fa...