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Sunday, June 25, 2017

W. Arthur Lewis and the tradeoffs of economics and economists | VOX, CEPR’s Policy Portal

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There is nothing new under the sun. The passionate political economy discourses of today consume us entirely. But they are in fact perennials, broaching the fundamental questions of economic policy that have ruled supreme since economics gained an independence of sorts from moral philosophy 250 years ago.1 The nature of market failure, the case for government intervention on grounds of efficiency and equity, and the interplay between economic and political forces are some of the tracks on which…
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