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Despite prosperity in west due to growth of world trade

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Despite the prosperity in the west due to growth of world trade, capitalist economies of western Europe and North America periodically experienced : 1. severe labor shortages. 2. inflation of their currencies that "overheated" their economies. 3. deep economic depressions in the business cycle. 4. social upheaval between "haves" and "have nots".

Reference no: EM133514292

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