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Structural Changes in the World Economy: Conclusions and Prospects

In: Unequal Exchange and the Evolution of the World System

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  • Kunibert Raffer

    (University of Vienna)

Abstract

The historical evolution of North-South relations is the history of unequal partners. Economic development in the periphery has always been a reflexion of the needs of the centre. Yet these reflexions have been different. Independently of whether one shares Keynes’s opinion that when re-writing economic history it should be asked whether ‘the long stagnation of the Middle Ages may not have been more surely and inevitably caused by Europe’s meagre supply of the monetary metals than by monasticism or Gothic frenzy’ (Keynes, 1965, p. 151), the tremendous impact of the gold that was robbed in Latin America on Europe cannot be denied.

Suggested Citation

  • Kunibert Raffer, 1987. "Structural Changes in the World Economy: Conclusions and Prospects," Palgrave Macmillan Books, in: Unequal Exchange and the Evolution of the World System, chapter 14, pages 258-276, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-09187-4_14
    DOI: 10.1007/978-1-349-09187-4_14
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