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Prebisch was the first to make use of the terms Main and periphery to describe this romance – a terminology that Wallerstein later developed on for his very own world systems principle. Prebisch was specifically interested in the curious scenario of Argentina, that, beginning the 20th century as one of the richest international locations on the earth on account of its powerful agrarian exports, did not keep speed with other loaded nations of Europe and North The us, at some point sliding right into a seemingly interminable cycle of financial stagnation and political crisis.
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…also pioneered the application of planet-systems principle into the 20th century, holding that “underdevelopment” was not simply a sort of lagging at the rear of but resulted in the exploitative economic electricity of industrialized nations around the world.
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Prebisch challenged this hypothesis by declaring that this kind of investments and infusion of cash into underdeveloped international locations only serve to more their dependence on foreign funds.
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