Raul Prebisch and the Deterioration of the Terms of Exchange

The article describes the evolution of a relatively unknown intellectual phase of Argentinean economist Raul Prebisch, usually mentioned in conjunction with H. Singer as the theorist behind the deterioration of the terms of exchange suffered by Third World countries in relation to developed countries. The author attempts to prove that the ideas Prebisch developed before his period as Director of the Economic Commission for Latin America (1949) are far more similar to those he began to reconstruct during the second half of the 1970s, which culminated in the publication of Capitalismo periferico in 1981. 55 References. Adapted from the source document.