Only 25 years ago my generation of university students was taught that economic growth around the world was governed by dependence theory, which established that growth in developing countries was inevitably slower than in advanced countries. As a matter of fact, advanced countries’ privileged position was at the expense of developing countries and there is thus no possibility of convergence. The framework was dominant in Latin America and other developing countries, as the data appeared to provide firm support to the argument, as developing countries’ growth was failing to grow more than advanced countries.