Heterodox
Emerging and Developing Economies for the First Time Account for a Larger Share of World GDP or Global Output Than Developed Economies; A Point Surpassed After the 2008 Financial Crisis That Has Continued Apace (See Figure 1).... How has this been achieved? Possessing good institutions is what economists have come to focus on and the spread of such institutions seems to have been key, as the father of New Institutional Economics predicted. The seminal work in this area was by Douglass...
Read More »World Economic Forum — Emerging economies are now richer than the West
