The Latin American Dependency School applies Lenin's views, and argues that countries in the periphery suffer as a result of the 'declining terms of trade'.

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The Latin American Dependency School, influenced by Marxist thought including Lenin's views on imperialism, argues that peripheral countries are exploited by core countries through mechanisms like the 'declining terms of trade', where the value of exports from peripheral countries decreases relative to the value of imports from core countries, leading to economic dependency and underdevelopment.

The Latin American Dependency School Applies Lenin's Views, and Argues