Raúl Prebisch and the dilemma of development in the globalised world

Includes bibliography

Globalization poses both challenges and opportunities. Prebischconfronted this development dilemma in the global world and left threemessages which form the great legacy of his work. Firstly, centralcountries form visions of the world order that serve their own interests;and peripheral countries need to rebel against this theoretical frameworkto resolve the dilemma. Secondly, it is possible to transform reality andachieve a symmetrical non-subordinate relationship with the world's powercentres. Thirdly, the transformation requires a fundamental change inproductive structures to incorporate knowledge into economic and socialactivity, since this is the fundamental instrument of development. Thesemessages remain fully current to this day.