This study contends that focusing on the process of state-aided market formation is a potentially useful method to update and improve the original insight of development economics, and it highlights the various ways the subject may be addressed in developed and developing economies. In developed economies, the primary challenge is to overcome the tendency toward market saturation. The primary challenge in developing economies is to expand their local markets. Income inequality, societal tensions, and environmental issues ...
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This study contends that focusing on the process of state-aided market formation is a potentially useful method to update and improve the original insight of development economics, and it highlights the various ways the subject may be addressed in developed and developing economies. In developed economies, the primary challenge is to overcome the tendency toward market saturation. The primary challenge in developing economies is to expand their local markets. Income inequality, societal tensions, and environmental issues can all create constraints. Developing countries should be encouraging labour development and sustainability because everyone can be a worker but not everyone can be rich.
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