Economics 10b Chapter Notes - Chapter 25: Ais People, Longrun, The Earth Institute
10 Feb 2014
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It can be proprietary under a time constraint or not. In developing nations, children drop out of school earlier because the opportunity cost of wages lost is too high: education creates many positive externalities, which is why economists argue that it should be so important to citizens. More people are capable of manual labor or receiving an education more energy from better nutrition, less sickness from better health higher productivity. Won nobel prize in economics in 1993. This gives foreigners less incentive to invest in the country: free trade, inward-oriented policies: policies that attempt to increase productivity and living standards within the country by avoiding interaction with the rest of the world. Countries with natural seaports find trade easier than countries without ports. It does this by providing grants and sponsoring research. Thomas robert malthus (1766-1834), an english minister and early economic thinker, wrote an essay on the principle of population as it affects the future.
