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Of course third world countries cannot carry or even compete in the world economy. Some of these people were living in mud-huts until 200 years ago. Western economy's have had thousands of years of practice, they have not.
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Commented Aug 12, 2011 on Will the divergence in growth result in eventual convergence in incomes? at Dani Rodrik's weblog
Will the divergence in growth result in eventual convergence in incomes?
I showed a neat picture in my previous post on the divergence in growth rates between developing and rich countries. But can developing countries really carry the world economy? Much of the optimism about their economic prospects is the result of extrapolation. The decade preceding the global f...
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