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BY ANDREW SUGRUE More than most states, Nevada suffered greatly during the recent recession. Unemployment peaked at 14 percent in 2010, housing prices had fallen 60 percent by 2011, and as of last year, GDP per capita remained at 20 percent below its pre-recession high. The state’s economy relies heavily on gaming, tourism, entertainment, hospitality […]
BY JOHN SCIANIMANICO David Ricardo, the father of modern-day trade theory, must be rolling in his grave. Ricardo’s doctrine of comparative advantage helps explain how the rise of international trade has benefited countries around the world. Global GDP per capita has exploded, life expectancy has increased, and billions have been lifted out of poverty. In […]
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