This article critically examines unequal exchange, a theory of value transfer from low-wage (periphery) countries to high-wage (center) countries. Unequal exchange differs from other mechanisms of value transfer that are based on restricted trade or differential rates of profit in that it occurs...

Sixty years after its entry in academic circles, development economics has now been mainstreamed in economics. It has proven itself in placing articles in top economic journals, in mobilizing a vast membership of students and researchers, in receiving important financial contributions from...