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The Growth Records of Japan and Hong Kong During the Last

question 67

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The growth records of Japan and Hong Kong during the last fifty years indicate that an economy can grow rapidly without


Definitions:

Karl Marx

A 19th-century philosopher, economist, and political theorist known for his critique of capitalism and the development of Marxist theory.

Milton Friedman

An influential American economist and Nobel laureate known for his strong belief in free-market capitalism and minimal government intervention.

Thorstein Veblen

An American economist and sociologist known for his theory of the leisure class and conspicuous consumption.

Consumer Dollar

Refers to the purchasing power of a consumer's money, indicating how much goods or services one dollar can buy.

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