The Theory of Unequal Exchange: The End of the Debate?
July 1978
Research Paper
pp 1-42.
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The overall objective of this work is to examine the theory of Unequal Exchange, the recent critiques of that, and its interrelation with questions concerning the effects and role of foreign investment in underdeveloped countries. Interest in this debate was stimulated largely by the contribution of Metcalfe and Steedman (1973) and Mainwaring (1974) towards the formulation of a neo-Ricardian model of trade along the lines of a Sraffa (1960) system of circulation and price formation.
Keywords
- Terms of trade
- Underdeveloped areas , Investments, Foreign
- Underdeveloped areas , Foreign economic relations
Automatically Extracted Terms
- country
- trade
- exchange
- emmanuel
- theory
- capital
- production
- development
- profit
- price
- value
- periphery
- surplus value
- model
- labour
- centre
- level
- relation
- surplus
- commodity
