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Modernization theory is associated with the process of modernization in which a nation goes through transitions from a traditional society to the modern one (Bernstein, 1971). In contrast, the legacy of colonialism explains that it is a practice of domination involving the subjugation of one person to another (Olsson, 2009). In the video “The End of Poverty”, depicts how economic regression is a direct consequence of unchallenged policies that have caused global poverty. In the video, it was explained that the reason for poverty is due to the outdated policies and social inequalities prevailing in our society. The Legacy of Colonialism did the best job in explaining the inequalities that were described in the readings and videos for this module. This is because global poverty is not the issue that arises recently but the issue has its roots since the colonial period where Black people were enslaved by the rich people and were forced to live in poverty. According to the Legacy of Colonialism rich people exploit poor people both politically and economically (Olsson, 2009). The video also highlighted that developed countries which are economically stable exploit the indebted underdeveloped countries that result in poverty.

Although, the modernization theory cannot be neglected as transitioning from traditional to modern society is overwhelming yet still, the major reason for global poverty is due to the uneven distribution of wealth among people based on their racial and cultural inequality. In any society, economic inequality is a result of a dysfunctional social structure that hinders social mobility. Due to this reason, rich people are getting richer while poor people are getting poorer day by day. Poverty is the root cause of several problems and the main problems are homelessness. The narrator also pointed out in the video that many people due to poverty have to live on the streets as they cannot afford to buy a house. The narrator also discussed that a declining economy is correlated to the unemployment that makes individuals unsafe as financial strain is a major factor due to which people are deprived of basic healthcare necessities and education. Thus, increasing the rate of poverty among people in a society.

References

Bernstein, H. (1971). Modernization theory and the sociological study of development. The Journal of Development Studies, 7(2), 141-160.

Olsson, O. (2009). On the democratic legacy of colonialism. Journal of Comparative Economics, 37(4), 534-551.

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