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The classical economists felt that there would be no general overproduction of goods because of
Aldous Huxley
An English writer and philosopher best known for his novel "Brave New World," exploring themes of dystopia, technology, and societal change.
Brave New World
A dystopian novel by Aldous Huxley, which explores themes of technological advancements, centralized control, and the loss of individuality.
International Council
A global organization or body consisting of members from different countries, formed to address mutual concerns, promote international cooperation, and facilitate dialogue on global issues.
Rerum Novarum
An encyclical issued by Pope Leo XIII in 1891, addressing the condition of the working classes, advocating for workers' rights, and condemning both socialism and unfettered capitalism.
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Q172: Explain the process by which an initial