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Bob's avatar

I read the intro and scanned the TOC. It doesn’t mention property rights.

People who are not secure in their property will be less inclined to generate a surplus. They rightly fear that it will be taken from them, and their efforts wasted.

Also, it seems to define capitalists as people who have more than others. I believe that is a bad definition. A capitalist invests what is surplus to need to generate more wealth. A feudal lord who does so is arguably a capitalist. A feudal lord who does not, is not.

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redhamehdi's avatar

Very informative outline for economic development course however the education element in economic progress is missing in the outline - any suggestions?

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