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When we look out at the world, we often only see macro level phenomena – such as unemployment, segregation, and inequality. Schelling’s segregation model teaches us that this macro level phenomena need not align in an intuitive way with what?
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At the time of its independence in 1947, India was a very poor country with a very small stock of physical capital. Between 1947 and 1980, the government of India believed that the best way to improve the standard of living in that country was to increase investment and create more jobs with the existing technology.
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