May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 15: The Economics of Development | 177 |
COSTS AND GAINS
Economic development is a mixed blessing. Both affl uence and
poverty are associated with their own set of problems. Each has
been known to spark strong reactions. For instance, the nihilists—
the Hippies and Yippies of America, the Beatles of England and
their counterparts on the Continent—began their movements in
1970s as a reaction to, and as a by-product of an affl uent society.
These trends appeared to be far more dangerous to the develop-
ment of an organic and orderly society than the poverty and misery
that prevail in developing countries. But, it is an indisputable fact ...
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