the history of Latin America’s economic development. One of the central constituting parts of Prebisch’s legacy was the role he pl ayed in transforming CEPAL into a transformative institution that would guide Latin American economic development for decades. The institution had to overcome numerous challenges during its prime years, nevertheless the work of Prebisch and other Latin American structuralists undoubtedly gave “reform -minded Latin Americans the confidence to shape their own economic strategies.” 184 An outstanding achievement, given that Latin American decision makers had “long felt at disadvantage” when facing decision makers from the developed countries. Presbich’s theoretical work was impressive; few economists can boast of wielding as great an influence on the economic thought of their generation as Prebisch did on the thinking of Latin Americans. However, Prebisch’s econo mic ideas never achieved the same level of influence in the West as they did in his home region of Latin America. Though impressive, his work was not as revolutionary as that of John Maynard Keynes and Milton Friedman. But to consider this a blemish on Pre bisch’s legacy would be harsh. When tasked with evaluating his overall legacy, his intellectual ideas are just one constitutive part. For Prebisch was not just a scholar: he was also an institution builder, and a thinker whose influence in the developing world was so profound he has been referred to by many as the “father of development.” 185 One of the fundamental beliefs that drove Prebisch throughout his life was the idea of “historical moments” 186 – moments in which the timing of new concepts could transform mere organisations into powerful movements. Partly as a result of his personal political experiences and those of his country, Prebisch would come to believe
184 Skidmore, Smith and Green, Modern Latin America, page 360. 185 Dosman, The Life and Times of Raúl Prebisch 1901-1986, page 4. 186 Dosman, The Life and Times of Raúl Prebisch 1901-1986, page 5.
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