Paul Prebisch

Paul Prebisch was an Argentine economist known for his role in the field of development economics in the mid-20th century. He is best known for the Prebisch-Singer hypothesis, which argues that the prices of primary commodities (like raw materials) tend to decline over time compared to the prices of manufactured goods. This creates an imbalance that can hinder economic development in countries reliant on exports of these commodities. Prebisch advocated for industrialization and economic diversification in developing countries to break this cycle, influencing economic policies in Latin America and shaping debates on trade and development.