Does Third World Growth Hurt First World Prosperity?
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- Synopsis
- In this article, Stanford economist Paul Krugman argues that fears about the impact of Third World competition are questionable in theory and flatly rejected by the data. After examining the consequences of isolated productivity improvements in three increasingly realistic economic models, Krugman concludes that an increase in Third World labor productivity means an increase in world output. And an increase in world output shows up in higher wages for Third World workers, not in decreased living standards for the First World. Yet if the West responds to the widespread fears about Third World economic success by erecting import barriers, the effects could be disastrous--dashing any hope of a decent living standard for hundreds of millions of people throughout the developing world.
- Copyright:
- 1994
Book Details
- Book Quality:
- Publisher Quality
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 08/04/16
- Copyrighted By:
- Harvard Business School Publishing - HBR
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.