Economic Development from the Eclac- Raul Prebisch Approach: In Search of Welfare and Life Quality in Latin Amercia

This study presents an analysis of the theory of economic development, from the perspective of ECLAC and Raul Prebisch, in their search for a better standard of living for Latin America, in the context of the combination of internal and external forces whose interaction explains the structural boundaries that makes difficult the achievement of having a decent quality of life and a gradual improvement of its quality for developing countries. That is why this paper will study ways of accomplishing key objectives by considering topics such as World Trade, International Cooperation, Technical Progress and the relation between Government - Market, with the aim of achieving higher standards of living among the population and consequently sustainable development in the long term that will provide better conditions of life for the developing countries.