Summary of naked economics

Countries are poor because they are not productive. We work much harder when we directly benefit from our work, often yielding significant social gains. The author argues that outsourcing actually facilitate growth and states that a growing economy will be able to absorb the summary of naked economics workers. There are many factors to consider when factoring the well-being of economy. Every market transaction makes all parties better off.

Summary of naked economics
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Naked Economics: Undressing the Dismal Science Summary & Study Guide

Human capital also embodies perseverance, honesty, creativity—virtues that lend themselves to finding work. Fishermen who hunt without constraint can deplete a fish population. Recessions may be good for long-term growth because they purge the economy of less productive ventures.

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Summary of naked economics
Summary of naked economics
Summary of naked economics
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Sometimes the distribution if information is unbalanced. In this case, everyone is worst off. Highly skilled workers are more mobile than their low-skilled peers.

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