Unequal exchange

Unequal exchange is a much disputed concept, used preferably in Marxian economics but also in ecological economics to denote forms of exploitation hidden in, or underwriting trade. Originating, in the wake of the debate on the Singer-Prebisch thesis, as an explanation of the falling terms of trade for underdeveloped countries, the concept was coined in 1962 by the Greco-French economist Arghiri Emmanuel to denote an exchange taking place where th... more

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