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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".
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 ...
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]
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.
This is best described by dependency theory, [2] which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for periphery countries to rise out of their status and move into semi-periphery or core status.
Andre Gunder Frank based his theories on observations of inequality in Latin America, exemplified by cities like São Paulo. Andre Gunder Frank was influential in the development of dependency theory, which would dominate discussions of radical economics in the 1960s and 70s. Like Baran and Sweezy, and the African theorists of imperialism ...
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 ...
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 ...