Asserts that more developed societies will become capitalist democracies, converging around a shared set of values and characteristics is

Modernization theory

Explanation:

Modernization theory helps to describe how a nation transit from traditional way of life to a modern society through industrialized economy and urbanization. This theory is credited to a group called American social scientist who was believed to have developed the theory in 1950, as this theory is not attributed to anyone.

The theory helps to explain how North America and Western Europe developed their industrial economy.

Modernization is said to involve 5 stages, which are

• Traditional society.

• Precondition to take off.

• Takeoff.

• Drive towards maturity.

• The era of high mass consumption.

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