Essay On Causes And Effects Of Pollution - Ecla Thesis

Blessed Pope Pius IX rightly recognized Protestantism in all its forms as “a revolt against God, it being an attempt to substitute a human for a divine authority, a declaration of the creature’s independence from God.”[20]

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Sadly, these were often abused by Latin American governments (and some economists at ECLA itself) to justify exaggerated protectionism and inflationary financing of government.

Prebisch–Singer hypothesis - Wikipedia

Invited by the UN in 1948 to direct its new Economic Commission for Latin America (ECLA), Prebisch turned its secretariat in Santiago, Chile, into a launch pad for “structuralism” and its related ideas of “inward development”, import-substitution industrialisation and regional integration.

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This view can be attributed to any number of economists but perhaps Marshall was the forerunner. This area is rich in mathematical models, the most typical being that of Walras which has two factors of production (capital and labour), two commodities and two production functions characterised by Leontief style fixed coefficients. All product markets are cleared through price adjustments to a 'Walrasian equilibrium'; the model therefore assumes full employment. There is no mechanism to introduce demand. In a dynamic version of this model, the Harrod-Domar model , Y = K/u (Y = output, K = capital, u = constant capital output ratio), u is fixed and hence the economic system is geared to a steady state of growth. In this model there is no market mechanism to equilibrate demand and supply of labour, hence the rate of growth of production may well be exceeded by the exogoneously determined rate of growth of the (working) population. The result could be an exponential unemployment growth rate. Solow rescued this model from positing the inevitability of unemployment by arguing that the choice of technique, the capital- output ratio, could shift in response to a growing availability of labour, as could the savings ratio. Labour could be absorbed if the 'technique' was right since, over time, the price of labour would dictate the technique. This was perhaps the birth of the idea of labour intensive techniques where it is suggested that labour can be absorbed for a given output by choosing an appropriate technique. Presumably if market pricing were working, such a labour intensive policy prescription would be unnecessary. This is because if, in a neo-classical world, the price of labour is attractive to producers compared to the price of capital, labour will be absorbed through an appropriate choice of technique. If labour is not absorbed, it implies that there are other factors at work. This is a phenomenon that has been observed recently in industrialised countries. The fight against inflation has been led by increases in real rates of interest. This has made the price of capital dear compared with labour, yet the result of the policy has been reduced inflation but higher, not lower, unemployment since high interest rates have prevented investment and growth and, consequently, this has led to the shedding of labour. As real interest rates reduced, borrowing and therefore investment costs reduced promoting increased economic growth. This led to greater rates of labour absorption, at least in the UK and USA where unemployment rates have fallen significantly in the 1990s. In Europe, unemployment has fallen but remained high due, it is argued, to institutional factors. What these other factors are that have prevented the absorption of labour can be found in examining institutional barriers to the setting of wage rates and in the discussion of dependency theories suggested by Prebisch when working in ECLA. His theory is summarised in section 5 below as is the contemporary debate between the World Bank neo-classical economists and the ILO institutionalists.

Raúl Prebisch: Latin America's Keynes - The Economist

An alternative theory to that put forward by Lewis, Fei and Ranis by its best known proponent, Prebisch , was the dependency theory of development. This theory is based upon the Latin American semi-developed countries. The fruit of Prebisch's efforts led to the creation of ECLA in 1949, the same year in which his study The economic development of Latin America and its main problems appeared.

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A more intangible problem is the question of female employment and, in particular, the question whether women confined to the home constitute part of the active or inactive population. Again, Tunisian statisticians among others have grappled with this problem and remarked (INS, 1988) that women not only constitute an important part of the inactive population but pass easily between the active and nonactive population depending on how the survey question is phrased. For example, in the 1975 Tunisian census housewives who declared themselves inactive (and therefore not part of the labour force) were asked an additional question to determine whether they participated in remunerated activities or helped in the family business (including agriculture). In the survey of 1980 and the census of 1984 the subsidiary questions were further refined and ,thus, a substantial proportion of women who had initially declared themselves inactive were added to the labour force and the employed population. In the 1986/87 labour survey of 24,000 households the INS reversed itself and excluded housewives from the labour force. The net effect of all this is that the official unemployment figures in Tunisia are not immediately comparable from period to period.