Dependency theory
"Open Veins" discusses Dependency theory by arguing that Latin America, since colonial times, has been looted by Europe and then by the United States, which explains why Latin America remains underdeveloped. Galeano argued that Latin America was not an example of underdevelopment due to lack of modernization but rather a victim of Europe’s and the US’s exploitation. “We lost; others won. But it happens that those who won, won because we lost,” Galeano stated.