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Gain political leverage, which they then use to shift terms of trade to their advantage. Initial growth surge characterized by asset accumulation that enables market elites to The liberation of factor markets from moral and communal oversight triggers an He finds instead that subjecting the factors of productionland, labor, and capitalto markets is self-undermining and gives rise toįeedbacks that result in declining welfare over time and eventually to downfall. Periods, he finds little to support a basic contention of contemporary social theory that Exploring the emergence and decline of markets over long historical To the beliefs of most readers of this journal and should be given seriousĬonsideration. Scott AtlasĮconomic historian Bas Van Bavel makes claims in The Invisible Hand? that are antithetical Single Issues of The Independent Review.Podcast: Independent Outlook / Conversations.International Economics and Development.
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