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.

KEYWORDS:
History of economic thought; economic growth