Emmanuel’s Unequal Exchange Theory | Economic Growth | Economics

In this article we will discuss about the Emmanuel’s unequal exchange theory of exchange theory. Marxists like Emmanuel (1972) and Anderson (1976) have attempted to explain the uneven development of productive factors (mainly labour productivity) and the resulting income dif­ferences in the capitalist world by the means of the 'surplus drain' hypothes. Adopting Raul Prebisch's division of the world capitalist [...]