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In this paper the author examines the theoretical and methodological strength of the Theory of Dependent Modernization with regard to the analysis of transition in Serbia and the postsocialist Balkan states. The paper presents a critical overview of the results of the Balkan transition processes, which have lead to the peripheriztion of economy, society and culture. The author calls for a critical rethinking of the reigning strategy of development and the economic and cultural policy in Serbia and the Balkans, and urges for redefining the strategy of overcoming the crisis.


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