Raul Prebisch

Raúl Prebisch was an influential economist from Argentina who developed the idea that developing countries often rely heavily on exporting raw materials, which can lead to economic disadvantages over time. He argued that this reliance causes prices for these resources to decline relative to manufactured goods from richer countries, making it harder for poorer nations to grow. Prebisch's work helped shape policies aimed at promoting industrialization and economic development in Latin America and other developing regions, emphasizing the need for countries to diversify their economies and reduce dependence on commodity exports.