Polarization dependent conductivity is a dependence of the low field non switching steady state conduction current through a metal ferroelectric metal (MFM) thin film capacitor on the remanent polarization state of the capacitor. This paper proposes a simple theoretical model based on Schottky barrier formation due to PZT-platinum work function differences and barrier height modulation due to remanent polarization. The model predicts a conduction current dependence on both remanent polarization state and electrode material. Finally, we present experimental data in qualitative agreement with the model.