1.
GV & PAN Three UN officials, including Shridath Ramphal and Dr. Raul Prebisch, behind desk and newsmen taking notes (MUTE)
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2.
CU Mr. Ramphal speaking on award
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3.
GV Newsmen taking notes (MUTE)
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4.
SCU Dr. Prebisch speaking
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SPEECH ON FILM (TRANSCRIPT)



SEQ. 2: RAMPHAL: "On this occasion, on this first occasion, the prize honours the work of Raul Prebisch. The citation, in which this committee of selection has presented its award, is with you. I hope you will look at it. Some of you know better than even I or the citation can tell you, the depth and the range and quality of Raul Prebesch's contribution to the cause of development. He has been one of the real pioneers of development, and in its truest sense. He has never hesitated to speak out with courage on all the issues pertaining to development. He has never hesitated to identify those matters that the world community must address itself to, those matters that developed states need to address themselves to. And he has never lacked courage to address himself to the developed countries themselves and to say what are the things that they must themselves do in relation to this important objective."



SEQ 4: PREBISCH: "We see in many Latin American countries the attempt to control this, to control the inflation resulting from this social conflict through monetary means, through orthodox monetary policies. I was in my youth head of the Central Bank. I have followed very strict rules of orthodoxy, but in other times, in other economic and social structures. Now it is not possible to do that. So in the light, or if you could say in the dark of these circumstances there is no other way. There are two only, two ways. One is widely practised in Latin America: to suppress the union power and the political power of the masses. The other is to transform the system. Probably you don't hesitate to believe that I am in favour of the second and not the first. And this means the social use of the economic surplus. That is perfectly compatible with the market forces, that should condition, should change the structure so as to give to market forces a proper social orientation."





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Script is copyright Reuters Limited. All rights reserved

Background: INTRODUCTION: The 100-thousand dollar Third World Prize was presented for the first time at a ceremony in the United Nations headquarters in New York on Thursday (2 April). The prize, which is to be awarded annually, was established by the London-based Third World Foundation for Social and Economic Studies.

SYNOPSIS: Its first recipient is Dr. Raul Prebisch, an Argentine economist and former Secretary-General of the UN Conference on Trade and Development (UNCTAD). He received the prize from Commonwealth Secretary General Shridath Ramphal, who paid tribute to Dr. Prebisch at a news conference earlier in the day:
Dr. Prebisch replied by denouncing economic policies followed in many developing countries: