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Re: economic pie

by elson

01 June 1999 16:37 UTC


> Why does the core have no endogenous growth? Because it's allways more
> comfortable to exploit.

But the essential point of w-s perspective is missed:  there is no
"endogenous" growth.  There is a world-systemic division of labor -- a
single economy.

The quote from IW, cited by Beatty, is that and nothing more.  Further, it
should be understood as an historical and empirical statement.  The whole
pie has grown, but the gap between the core and periphery is greater now
than ever, and indeed many places (most?) are worse off now than prior to
the emergence of the system.

elson


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