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Raúl Prebisch (April 17, 1901 – April 29, 1986) was an Argentine economist known for his contributions to structuralist economics such as the Prebisch–Singer hypothesis, which formed the basis of economic dependency theory. He became the executive director of the Economic Commission for Latin America (ECLA or CEPAL) in 1950. [1]
Munck's works on Latin America include Politics and Dependency in the Third World: The Case of Latin America (1984) [4] on dependency theory, Latin America: The Transition to Democracy (1989), [5] three editions of Contemporary Latin America (2002, 2007, 2012), [6] and the Gramscian Rethinking Latin America: Development, Hegemony and Social Transformation (2013).
The theory reached its peak in the early 1970s when it propagated throughout Latin America, the United States, Europe, Africa and Asia. However, after the fall of the Chilean Allende Government in 1973, which was heavily based on the dependency theory, critics of this theory increased in number. The theory does not have many proponents today ...
Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the "world system".
It was widely employed as a term to describe post-colonial dependency relations in the developing world, especially in Latin America. [1] As part of the larger theoretical position usually called dependency theory. It was particularly popular in the 1960s and 1970s, and other issues took center stage in development economics at later periods.
He is most noted for his work on dependency theory, the political economy of development in Latin America and income distribution. [1] [2] He is also known for the Palma ratio which is defined as the ratio of the richest 10% of the population's share of gross national income divided by the poorest 40%'s share. This is based on Palma's finding ...
The first issue of the journal focused on the debates within dependency theory in Latin America, with a lead article by Chilcote, "Dependency: A Critical Synthesis of the Literature", [2] [non-primary source needed] and contributions from leading Latin American theorists. In the Summer-Fall 1981 edition, Chilcote explored the relationship of ...
Open Veins discusses dependency theory by arguing that Latin America, since colonial times, has been looted by Europe and then by the United States, which explains why Latin America remains underdeveloped. Galeano argued that Latin America was not an example of underdevelopment due to lack of modernization but rather a victim of Europe’s and ...