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Is dependency a problem in Less Developed Countries?
Problem: DCs exploit Less Developed Countries by extracting their surplus value. This value becomes the difference among the values of what an LDC produces and what this is paid to produce such by a DC.
Free trade and transnational foreign direct investment warps the entire economics and social structure of LDCs that become geared to meeting the needs of DCs for example export, orientated industries.
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
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How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
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