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« Stiglitz and Toward a Theory of the Rent-Seeking Society | Main | A Scandal in Bohemia: On Facts, Theories, and Interpretations »


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There's no time in his model. Internationalization occurs exogenously. Workers of different skill levels move instantly to new, more productive matches and then absolutely nothing else happens. At least not until the next unexplained exogenous event.

From this he concludes that government intervention is the only solution to a problem that exists only in his model.

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