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The Dialectics of Wealth and Poverty*
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Oct
28th 2024, Prabhat Patnaik
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This
year's Nobel Prize in economics (the Riksbank Prize
to be more precise) has been awarded to three US-based
economists for their research into what promotes or
hinders the growth of wealth among nations; and they
assign a crucial role to institutions, arguing that
western institutions like electoral democracy are conducive
to growth.
*
This article was originally published in the Peoples
Democracy on October 27, 2024.
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