UNEQUAL DEVELOPMENT AND CAPITALISM: CATCHING UP AND FALLING BEHIND IN THE GLOBAL ECONOMY- ADALMIR A. MARQUETTI, ALESSANDRO MIEBACH, AND HENRIQUE MORRONE
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Abstract
Capitalism is a system of illusory promises. It often suggests that any society can achieve higher levels of per capita income and social well-being, yet its most defining feature remains the persistent and pervasive pattern of uneven and unequal development. While some countries manage to catch up with these lofty promises, others are left behind. In Unequal Development and Capitalism: Catching Up and Falling Behind in the Global Economy, Adalmir A. Marquetti, Alessandro Miebach, and Henrique Morrone provide an in-depth empirical analysis of these processes using high-quality data from developing regions from 1970 to 2019. This analysis is grounded in a Classical-Marxian model of economic growth and income distribution that explains the dynamics of catching up and falling behind, while offering an alternative theoretical foundation for understanding the economic forces shaping global disparities...
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