Development, distribution of income and foreign capital: a comment on ECLAC in the 1950s
This article discusses the ECLAC’s approach on the role of foreign capital in the
industrialisation of the Latin America during the fifties. The first section provides a synthesis
of Eclac’s vision on the structural changes in the main Latin American economies. The
second section shows how the international capital was understood by “cepalinos” thinkers
as an alternative way of financing development, in opposition to the radical schemes that
were proposed by the nationalists and the left. The concluding section summarizes the main
points of the paper.
JEL Classification: O40; B22.
Keywords: History of economic thought economic growth