raul_prebisch

Argentinian economist who reshaped global development theories through his 'Center-Periphery' model

Raúl Prebisch (1901–1986) was a visionary economist whose 'Center-Periphery' theory revolutionized understanding of global economic inequality. Born in Argentina, he became the first executive secretary of the UN Economic Commission for Latin America (ECLA) in 1948, where he challenged prevailing economic orthodoxy by arguing that developing nations were trapped in a 'development trap' due to unfair trade relations with industrialized countries.

Prebisch's seminal 1950 report Commercial Policy in Developing Countries proposed import substitution industrialization strategies that influenced policies across Latin America. His work laid the foundation for dependency theory and inspired the New International Economic Order. As president of the UNCTAD (1964–1969), he advocated for fairer global trade terms. His legacy endures in modern debates about economic justice - explore his ideas at UNCTAD.