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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".
Inspired by this, Raúl Prebisch presented a paper of his own discussing the decline at the United Nations Economic Commission for Latin America and the Caribbeans second annual meeting, in Havana in May 1949. [7] Therefore, the statistical argument about the long-term trend in terms of trade of underdeveloped countries must be attributed to ...
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]
Dependency theory arose as a theory in Latin America in reaction to modernization theory. It argues that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
The approach originated with the work of the Economic Commission for Latin America (ECLA or CEPAL) and is primarily associated with its director Raúl Prebisch and Brazilian economist Celso Furtado. Prebisch began with arguments that economic inequality and distorted development was an inherent structural feature of the global system exchange ...
Forced mining labor was placed on the slaves, which enabled Latin America to export cheap goods to Europe. [8] Both Poland and Latin America were similar during this time period because the aristocrats of these areas became more wealthy due to their interactions with the world economy. These areas of the world were also different from during ...
Andre Gunder Frank (February 24, 1929 – April 25, 2005) was a German-American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy , but rejected Marx 's stages of history , and economic history generally.
Neocolonial dependence, also known as the Neocolonial Dependance Model or Dependency Theory is an indirect outgrowth of Marxist thinking which is a subgroup of development economics. According to this doctrine, third world underdevelopment is viewed as the result of highly unequal international capitalist system or rich country-poor country ...