Tag: technological progress
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Free Trade as Technology
Carpe Diem: If Free Trade = Technological Progress, Then Restrictions on Trade = Restrictions on Technology From Greg Mankiw's textbook: "Trade is, in some ways, a form of technology. When a country exports wheat and imports textiles, it is as if it had invented a form of technology for turning wheat into textiles. A country…
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Technology, Not Globalization, Feeds Income Inequality
Wall Street Journal: Technology, Not Globalization, Feeds Income Inequality Critics of globalization often cite increasing income inequality in their opposition, but a new study suggests that technological advances, not globalization, is responsible for an increase in the gap. “The observed rise in inequality across both developed and developing countries over the past two decades is…