Sunday, July 7, 2013

Keynes and Prebisch paper now in English

The paper linked here before, has now been published as a working paper in English in the Network IDEAs website here.

From the abstract:
Keynes had a profound influence on Prebisch not only in terms of the diagnosis about the main failures of market economies but also on the need to pursue pro-active and anti-cyclical policies. Further, both economists dedicated their efforts to expand the policy autonomy of their respective countries and regions. However, Prebisch was critical of some aspects of Keynes’ main work, The General Theory of Employment, Interest and Money (1936). This can be explained by a difference between the two economists in their object and method of analysis. Prebisch’s interests focused on dynamics and the cycle, themes that were peripheral to the central message and analysis of the General Theory. Prebisch’s Keynesian influence and his rejection of Keynes’ magnum opus explain why Prebisch is often described as the Latin American Keynes, even as he is portrayed as concerned mainly with the long- run development problem of Latin America without consideration of demand factors.

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