Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/98614
Authors: 
Pérez Caldentey, Esteban
Vernengo, Matías
Year of Publication: 
2013
Series/Report no.: 
Working Paper, University of Utah, Department of Economics 2013-08
Abstract: 
Keynes had a profound influence on Prebisch in terms of the diagnosis about the main failures of market economies and the need to pursue pro-active and anti-cyclical policies. However, Prebisch was critical of some aspects of Keynes' General Theory of Employment, Interest and Money, in particular on the theory of interest and the multiplier. His attitude can be explained by a difference in the object and method of analysis. Prebisch interests focused on dynamics and the cycle, themes that were peripheral to Keynes' central message. Prebisch's Keynesian influence and his rejection of some aspects of Keynes magnum opus explains why at the same time that Prebisch is often described as the Latin American Keynes, he is portrayed as concerned mainly with the long-run development problem of Latin America and without proper consideration to demand factors as fundamental determinants of output and employment.
Subjects: 
Business Cycles
Interest Rate
Multiplier
Center-Periphery
JEL: 
B22
E32
E40
F55
Document Type: 
Working Paper

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