External economic relations and the process of development:a Latin American view
Author(s)/Corporate Author (s)Sunkel, Osvaldo;
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“External economic relations and the process of development: a framework for discussion”, and Professor Meier has simply stated in the first part of this paper, "The framework for discussion is correct. Neoclassical economic theory is correct." And, from there it proceeds to the analysis of the policies which from that point of view were wrong in the past and which must be corrected in the future. It will start by paraphrasing the title of this conference, "Latin American-U.S. Economic Interactions". According to neoclassical international trade theory, all interactions are equal but according to the framework suggested, some international interactions are more equal than others. Now it uses two simple graphs which are not very conventional in economics, and briefly try to state what it believes to be a more significant framework for analysis. The basic assumption of the first graph is that one should look at the international system as a whole rather than simply looking at national development in an isolated way, as has been usually done in the analysis of development problems. Let us assume then that the larger circle in graph 1 represents the international capitalist system, which is the only one we are interested in now; and let us assume that the two smaller circles inside the larger one represent one so-called developed country and one so-called underdeveloped country; two national subsystems within the international capitalist system.
Citation“Sunkel, Osvaldo; (1975-08). External economic relations and the process of development:a Latin American view. Dakar. © UN. IDEP. ”
- Economic Development