Two answers required. A similar conclusion was reached independently by these two economists, one of whom drew on his leadership of the Economic Commission for Latin America, while the other took a quantitative approach in a UN paper on trade statistics. For 10 points each:
[10m] Name these two mid-century economists who co-name a “hypothesis” that declining terms of trade will impoverish commodity exporters over time.
ANSWER: Raúl Prebisch AND Hans Singer [accept Prebisch–Singer hypothesis]
[10e] In the Prebisch–Singer hypothesis, commodity exporters are largely part of this general area emphasized in dependency theory, which is contrasted with the core.
ANSWER: periphery [accept semi-periphery]
[10h] Prebisch coined this two-word situation from Marxist economics that results from periphery countries both having undervalued exports and needing to achieve a monetary balance of trade. Ecological economists argue that environmental degradation exacerbates this situation.
ANSWER: unequal exchange [accept ecologically unequal exchange]
<S, Social Science>