Please explain the structuralist theory of development.
The structuralist theory of development argues that the governments of developing countries must intervene to ensure that their economies will be able to become fully modernized and industrial. If governments do not do this, they will be doomed to remain in a colonial relationship with the rich world.
This theory was mainly applied to Latin America. It argued that Latin American countries would be used by the US as sources for raw materials and cheap labor unless their governments took steps to prevent that. Structuralist theory argued that governments had to protect "infant industries" in their countries from foreign competition. The most usual was to do this was through tariffs that would be placed on imports. By increasing the cost of imported goods, the government would allow new domestic industries to develop until they would be able to compete on their own with industries from the rich world.
I am a freshman college student and i am researching about structuralist theory of development. could you give further explanation as to who were the proponets of this theory, when was this implemented, what are the hindrances and your personal view/s about it.