South America, Central America and the Caribbean

  • Anthony D. Smith


The Economic Survey of Latin America, 1962, produced by the United Nations Economic Commission for Latin America, was devoted entirely to a study of the economic development of the region in the post-war period. For the study, 154 tables, containing a wide variety of relevant economic and social data, were prepared. Not a single wage series was included in this plethora of statistics. This can be ascribed either to the fact that statistical series of wages are not available (or are of too poor a quality to be used) or to the consideration that wage changes are not regarded by observers of the Latin American scene as, in any sense, a ‘prime mover’ in the region’s development.


Real Wage Latin American Country Real Income Wage Increase Supply Curve 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 2.
    G. Maynard, Economic Development and the Price Level (1962) 239.Google Scholar
  2. 4.
    T. E. Davis, ‘Inflation and Growth in Latin America: Theory, Performance and Policy’. Economic Development and Cultural Change (Jul 19661Google Scholar
  3. 1.
    A. Kafka, ‘The Theoretical Interpretation of Latin American Economic Development’, in Economic Development for Latin America, ed. H. S. Ellis (1961) 17. The Proceedings of a Conference held by the International Economic Association.Google Scholar
  4. 1.
    This résumé is based on the following sources: E.C.L.A., Economic Surveys of Latin America, especially 1962, 1963 ch. I, and 1964 ch. IGoogle Scholar
  5. Maynard, op. cit.; Ellis (ed.), op. cit.; Bee de Dagum, op. cit.; Davies, op. cit.; Baer, ‘Inflation and Economic Growth’; and E. Eshag and R. Thorp, ‘Economic and Social Consequences of Orthodox Economic Policies in Argentina in Post-War Years’, Bulletin of the Oxford University Institute of Economics and Statistics (Feb 1965)Google Scholar
  6. 1.
    H. C. Harberger, ‘The Dynamics of Inflation in Chile’, in Measurements in Economics; Studies in Mathematical Economics and Econometrics in Memory of Yehuda Grunfeld (Stanford 1963) 219–50.Google Scholar
  7. 2.
    W. Baer, ‘The Economics of Prebisch and E.C.L.A.’, Economic Development and Cultural Change (Jan 1962).Google Scholar
  8. 1.
    For example, in Puerto Rico ‘there is convincing evidence that minimum-wage regulation, rather than employer competition for labour, has been the dynamic factor in the rapid rise of wages over the past 15 years’ and an important objective in minimum wage regulation has been to raise ‘the level of wages in Puerto Rico as rapidly as possible to the mainland (United States) minimum’. (L. G. Reynolds and P. Gregory, Wages, Productivity and Industrialisation in Puerto Rico, The Economic Growth Centre. Yale 1965, 41–3.)Google Scholar

Copyright information

© The International Institute for Labour Studies 1969

Authors and Affiliations

  • Anthony D. Smith
    • 1
  1. 1.International Institute for Labour StudiesGenevaSwitzerland

Personalised recommendations