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Prebisch–Singer Hypothesis
In economics, the Prebisch–Singer hypothesis (also called the Prebisch–Singer thesis) argues that the price of primary commodities declines relative to the price of manufactured goods over the long term, which causes the terms of trade of primary-product-based economies to deteriorate. , recent statistical studies have given support for the idea. The idea was developed by Raúl Prebisch and Hans Singer in the late 1940s; since that time, it has served as a major pillar of dependency theory and policies such as import substitution industrialization (ISI). Theory A common explanation for this supposed phenomenon is that manufactured goods have a greater income elasticity of demand than primary products, especially food. Therefore, as incomes rise, the demand for manufactured goods increases more rapidly than demand for primary products. In addition, primary products have a low price elasticity of demand, so a decline in their prices tends to reduce revenue rather than inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bretton Woods Institutions
The Bretton Woods system of Monetary system, monetary management established the rules for commercial relations among 44 countries, including the United States, Canada, Western European countries, and Australia, after the 1944 Bretton Woods Agreement until the Jamaica Accords in 1976. The Bretton Woods system was the first example of a fully Representative money, negotiated monetary order intended to govern monetary relations among independent states. The Bretton Woods system required countries to guarantee convertibility of their currencies into U.S. dollars to within 1% of fixed parity rates, with the dollar gold standard, convertible to gold bullion for foreign governments and central banks at US$35 per troy ounce of fine gold (or 0.88867 gram fine gold per dollar). It also envisioned greater cooperation among countries in order to prevent future competitive devaluations, and thus established the International Monetary Fund (IMF) to monitor exchange rates and lend reserve curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unequal Exchange
Unequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to describe the systemic hidden transfer of labor and ecological value from poor countries in the imperial periphery (mainly in the Global South) to rich countries and monopolistic corporations in the imperial core (mainly in the Global North) due to structural inequalities in the global economy. Due to biased terms of trade and the undervaluation of labor and goods from the global South compared to the North, poor countries are forced to export a much larger quantity of labor and resources than they import to maintain a monetary balance of trade. This enables the global North to achieve a net appropriation through trade, fostering development in the former while impoverishing the global South. The theory of unequal exchange is a rejection of the fundamental assumptions of Ricardian and neoclassical theories of comparative ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Conference On Trade And Development
UN Trade and Development (UNCTAD) is an intergovernmental organization within the United Nations Secretariat that promotes the interests of developing countries in world trade. It was established in 1964 by the United Nations General Assembly (UNGA) as the United Nations Conference on Trade and Development but rebranded to its current name on the occasion of its 60th anniversary in 2024. It reports to both the General Assembly and the United Nations Economic and Social Council (ECOSOC). UNCTAD is composed of 195 member states and works with non-governmental organizations worldwide; its permanent secretariat is at UNOG in Geneva, Switzerland. The primary objective of UNCTAD is to formulate policies relating to all aspects of development, including trade, aid, transport, finance and technology. It was created in response to concerns among developing countries that existing international institutions like GATT (since replaced by the World Trade Organization), the International ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structuralist Economics
Structuralist economics is an approach to economics that emphasizes the importance of taking into account structural features (typically) when undertaking economic analysis. 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. As such, early structuralist models emphasised both internal and external disequilibria arising from the productive structure and its interactions with the dependent relationship developing countries had with the developed world. Prebisch himself helped provide the rationale for the idea of import substitution industrialization, in the wake of the Great Depression and World War II. The alleged declining terms of trade of the developing countries, the Singer–Prebi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Of 77
The Group of 77 (G77) at the United Nations (UN) is a coalition of developing country, developing countries, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations. The group consists of a diverse set of states with a common South–South cooperation, South-South ideology. There were 77 founding members of the organization headquartered in Geneva, but it has since expanded to 134 member countries. Iraq holds its chairmanship for 2025, succeeding Uganda. The group was founded on 15 June 1964, by 77 Non-Aligned Nations, non-aligned nations in the "Joint Declaration of the Seventy-Seven Countries" issued at the United Nations Conference on Trade and Development (UNCTAD). The first major meeting was in Algiers in 1967, where the ''Charter of Algiers'' was adopted and the basis for permanent institutional structures was begun under the leadership of Raúl Prebisch who had previously worked at United Nations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developmental Economics
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels. Development economics involves the creation of theories and methods that aid in the determination of policies and practices and can be implemented at either the domestic or international level. This may involve restructuring market incentives or using mathematical methods such as intertemporal optimization for project analysis, or it may involve a mixture of quantitative and qualitative methods. Common topics include growth theory, poverty and inequality, human capital, and institutions. Unlike in many other fields of economics, approaches in development econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Celso Furtado
Celso Monteiro Furtado (July 26, 1920 – November 20, 2004) was a Brazilian economist and one of the most distinguished intellectuals of the 20th century. His work focuses on development and underdevelopment and on the persistence of poverty in peripheral countries throughout the world. He is viewed, along with Raúl Prebisch, as one of the main formulators of economic structuralism, an economics school that is largely identified with CEPAL, which achieved prominence in Latin America and other developing regions during the 1960s and 1970s and sought to stimulate economic development through governmental intervention, largely inspired on the views of John Maynard Keynes. As a politician, Furtado was appointed Minister of Planning ( Goulart government) and Minister of Culture ( Sarney government). Biography Born in Pombal, a city set in the semi-arid region of the state of Paraíba, Celso Furtado moved to Rio de Janeiro in 1939, to study law, and graduated from the Federal Univ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Political Economy
The ''History of Political Economy'' is a journal published by Duke University Press, focusing on economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ... and the history of economic thought and analysis. References External links * Quarterly journals English-language journals Academic journals established in 1969 Duke University Press academic journals {{economics-journal-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Havana
Havana (; ) is the capital and largest city of Cuba. The heart of La Habana Province, Havana is the country's main port and commercial center.Cuba ''The World Factbook''. Central Intelligence Agency. It is the most populous city, the largest by area, and the List of metropolitan areas in the West Indies, second largest metropolitan area in the Caribbean region. The population in 2012 was 2,106,146 inhabitants, and its area is for the capital city side and 8,475.57 km2 for the metropolitan zone. Its official population was 1,814,207 inhabitants in 2023. Havana was founded by the Spanish Empire, Spanish in the 16th century. It served as a springboard for the Spanish colonization of the Americas, Spanish conquest of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Economic Commission For Latin America And The Caribbean
The United Nations Economic Commission for Latin America and the Caribbean (UNECLAC, ECLAC or ''CEPAL'', in Spanish: ''Comisión Económica para América Latina y el Caribe'') is a United Nations regional commission to encourage economic cooperation. The ECLAC includes 46 member states (20 in Latin America, 13 in the Caribbean and 13 from outside the region), and 14 associate members which are various non-independent territories, associated island countries and a commonwealth in the Caribbean. The ECLAC publishes statistics covering the countries of the regionCEPALSTAT page at official ECLAC site and makes cooperative agreements with nonprofit institutions. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
