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| Preface | |
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| Acknowledgments | |
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| About the Author | |
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| The World of the Twentieth Century | |
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| The American Century | |
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| A Review of the Twentieth Century | |
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| The Years 1900 to 1954 | |
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| World War I, 1914-1918 | |
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| The Depression | |
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| World War II, 1939-1945 | |
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| The Years 1950 to 2000 | |
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| The End of Colonialism | |
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| Technological Change | |
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| The Collapse of Communism | |
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| Regional Trading Blocs | |
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| The End of the Twentieth Century | |
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| Why Some Nations Are Rich and Others Are Poor | |
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| Climate and Political Systems | |
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| Culture and Economic Success | |
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| Market Mechanisms and Capitalism | |
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| Capitalism as an Economic System | |
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| Institutions of Capitalism | |
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| Private Property | |
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| The Profit Motive | |
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| The Price System | |
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| Freedom of Enterprise | |
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| Competition | |
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| Individualism | |
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| Consumer Sovereignty | |
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| The Protestant Work Ethic | |
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| Limited Government | |
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| Income Distribution in a Capitalist Economy | |
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| Measurements of Income Inequality | |
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| Rationale for Income Inequality | |
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| The Luxembourg Income Study | |
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| Saving and Capital Formation under Capitalism | |
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| Modifications of Pure Capitalism | |
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| Government and the Decline of Laissez-Faire | |
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| Restrictions on Competition | |
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| Antitrust Laws | |
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| Social Regulation | |
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| Social Security | |
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| A Comparison of Capitalist Systems: One Approach | |
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| Individualistic Capitalism | |
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| Communitarian Capitalism | |
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| A Comparison of Capitalist Systems: An Alternative Approach | |
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| U.S. Market Capitalism | |
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| Social Market Capitalism | |
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| State-Directed Capitalism | |
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| Public Sector Expenditures and Taxation | |
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| The United States | |
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| U.S. Market Capitalism | |
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| U.S. Capitalism and Culture | |
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| Government Intervention in the U.S. Economy | |
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| Historical Background of Government Intervention | |
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| Private Enterprise | |
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| Large Corporations | |
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| Small Enterprises | |
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| Unions | |
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| Government | |
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| Public Finance | |
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| A Comparison of Government Expenditures by Countries | |
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| Economic Stabilization Policies | |
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| Government Regulation and Control of Business | |
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| Government Ownership of Industry | |
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| An Evaluation of the American Economy | |
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| Strengths of the American Economy | |
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| Weaknesses of the American Economy | |
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| Japan | |
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| The Japanese Economy | |
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| The Development of Modern Japan | |
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| The Meiji Period, 1868-1913 | |
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| Post-World War II Development of Japan | |
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| Organization of Industry | |
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| The Keiretsu | |
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| The Sogo Shosha | |
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| The Dual Nature of Japanese Industry | |
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| The Public Sector | |
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| The Banking System | |
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| Labor-Management Relations | |
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| An Evaluation of Japan | |
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| The Performance of the Japanese Economy in the Twentieth Century | |
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| Strengths of the Japanese Economy | |
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| Weaknesses of the Japanese Economy | |
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| Germany | |
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| German Reunification | |
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| A Comparison of East Germany and West Germany | |
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| Economic and Social Costs of Reunification | |
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| Benefits of Reunification | |
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| The German Economy | |
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| Mittelstand | |
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| Banking | |
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| Codetermination | |
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| Vocational Education | |
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| Social Security and Other Welfare Measures | |
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| An Evaluation of the German Economy | |
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| Strengths of the German Economy | |
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| Weaknesses of the German Economy | |
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| The German National Election of 1998 | |
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| Nonmarket Mechanisms and Socialism | |
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| Socialism as an Economic System | |
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| Historical Development of Socialism | |
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| The Renaissance Utopias | |
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| French Utopian Socialists | |
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| Socialism and the Industrial Revolution | |
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| Modern Socialism | |
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| Institutions of Socialism | |
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| Private Property | |
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| Socialism and Government | |
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| Communism | |
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| Karl Marx and Das Kapital | |
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| The Weaknesses of Marxism | |
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| The Merits of Marx | |
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| The Political and Economic System of the Soviet Union and Eastern Europe | |
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| Organization | |
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| Party and Government Structure | |
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| The Nomenklatura System | |
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| The Economic System of Socialism | |
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| Economic Planning | |
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| State Budget | |
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| Money and Banking | |
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| Prices | |
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| Income Distribution | |
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| Organization of Industry and Agriculture in the Former Soviet Union and Eastern Europe | |
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| The Rise and Fall of Communism | |
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| The Rise of Communism in Russia | |
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| World War I | |
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| The Russian Revolution | |
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| Lenin and Communism | |
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| The Creation of a Party State | |
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| The New Economic Policy, 1921-1928 | |
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| Stalin and the Development of Communism | |
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| The Soviet Union After World War II | |
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| The Post-Stalin Period | |
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| Gorbachev, Perestroika, and Glasnost | |
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| Perestroika | |
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| Glasnost | |
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| Democratization | |
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| The Performance of the Soviet Economy in the 1980s | |
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| Economic Growth | |
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| Foreign Trade | |
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| Defense and the Economy | |
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| Food and Other Goods and Services | |
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| The End of the Soviet Union | |
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| Communism Is Dead | |
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| Why Did Communism Fail? | |
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| Failure of the Economic System | |
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| Burden of Defense Expenditures | |
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| The Bureaucracy | |
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| Glasnost | |
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| Legacies of Communism | |
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| Environmental Pollution | |
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| Poor Infrastructure | |
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| Uncompetitive Trade | |
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| Social Costs | |
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| An Evaluation of the Soviet Economy in the Twentieth Century | |
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| The Russian Federation | |
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| The Legacy of Russian History | |
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| Transformation of the Economy of the Russian Federation | |
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| Political Change | |
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| Legal Framework | |
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| Shock Therapy versus Gradualism | |
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| Privatization | |
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| Financial Markets | |
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| Public Finance | |
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| Fiscal Reforms | |
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| Foreign Trade | |
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| An Evaluation of the Russian Federation | |
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| Corruption | |
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| Wealth and Poverty | |
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| Financial Problems | |
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| Political Instability | |
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| A Cashless Society | |
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| Poland, the Czech Republic, and Hungary | |
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| Legacy of Communism | |
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| Poland | |
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| Problems of the Polish Economy | |
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| Shock Therapy | |
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| Privatization | |
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| Banking | |
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| Public Finance | |
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| An Evaluation of the Polish Economy | |
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| The Czech Republic | |
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| Privatization | |
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| Banking | |
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| An Evaluation of the Czech Economy | |
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| Hungary | |
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| The New Economic Mechanism (NEM), 1968 | |
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| Later Reforms | |
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| Problems of the Hungarian Economy | |
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| Privatization | |
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| Banking | |
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| Public Finance | |
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| An Evaluation of the Hungarian Economy | |
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| A Comparison of Poland, the Czech Republic, and Hungary | |
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| Market and Nonmarket Mechanisms in Developing Economies | |
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| Problems of the Less Developed Countries | |
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| Economic Development | |
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| Characteristics of the Less Developed Countries | |
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| Per Capita Income | |
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| Overpopulation | |
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| Gender Disparity | |
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| Human Development | |
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| Obstacles to Economic and Social Development | |
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| Corruption | |
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| Political Instability | |
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| Capital Flows | |
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| Population Trends | |
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| Infrastructure | |
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| Low Savings Rate | |
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| Limited Range of Exports | |
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| Foreign Debt | |
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| Physiography | |
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| The Twenty-First Century | |
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| Dependencia Theory | |
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| Progress in the Twenty-First Century | |
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| Poverty Reduction Goals | |
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| China | |
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| History of China | |
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| Development of the Economic System | |
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| The Period of Consolidation, 1949-1952 | |
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| The First Five-Year Plan, 1953-1957 | |
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| The Great Leap Forward, 1958-1960 | |
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| The Proletarian Cultural Revolution, 1966-1969 | |
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| The Post-Cultural Revolution Period, 1970-1976 | |
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| The 1980s | |
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| The Communist Party | |
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| The Economic System | |
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| Economic Planning | |
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| Public Finance | |
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| Banking | |
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| Organization of Industry | |
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| Organization of Agriculture | |
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| Foreign Trade and Investment | |
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| Performance of the Chinese Economy | |
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| Strengths | |
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| Weaknesses | |
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| India | |
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| A History of India | |
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| England and Mercantilism | |
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| British Ascendancy in India | |
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| Independence of India, 1947 | |
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| The Economic and Political Development of India | |
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| Government | |
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| Economic Development after Independence | |
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| Economic Planning | |
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| Nationalization of Industry | |
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| India in the 1980s | |
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| India in the 1990s | |
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| An Evaluation of the Indian Economy | |
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| Latin America: Argentina, Brazil, and Mexico | |
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| The Economy of Latin America | |
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| Inflation | |
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| Population | |
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| Foreign Debt | |
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| Political Instability | |
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| Income Inequality | |
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| Poverty | |
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| Corruption | |
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| Militarism | |
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| Argentina | |
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| Political Instability | |
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| Brazil | |
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| History of Brazil | |
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| Brazil in the 1990s | |
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| Mexico | |
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| History of Mexico | |
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| Economic Development Strategy | |
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| Mexico in the 1990s | |
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| The Performance of the Mexican Economy in the 1990s | |
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| Africa: Nigeria and South Africa | |
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| Characteristics of African Countries | |
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| Colonialism | |
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| Consequences of European Rule in Africa | |
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| Postcolonial Africa | |
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| Poverty | |
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| Human Development | |
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| Income Inequality | |
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| Population Dynamics | |
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| Political and Social Instability | |
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| Foreign Trade and Investment | |
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| AIDS | |
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| The Development of Nigeria | |
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| Oil | |
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| The Role of the Government | |
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| Political Instability | |
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| An Evaluation of the Nigerian Economy | |
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| South Africa | |
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| Democracy | |
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| The Future of Africa | |
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| Toward a New World Order | |
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| World Economic Integration | |
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| Types of Economic Integration | |
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| The European Union | |
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| The Genesis of the European Union | |
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| The European Monetary System | |
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| Prelude to Maastricht | |
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| Political Union | |
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| The Euro | |
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| The Importance of the European Union to the United States | |
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| The North American Free Trade Agreement (NAFTA) | |
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| Provisions of NAFTA | |
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| Results of NAFTA | |
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| Mercosur | |
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| Reasons for Mercosur | |
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| APEC | |
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| Purpose of APEC | |
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| Europe-Latin America Free Trade Zone | |
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| Criticism of Regional Trading Blocs | |
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| The Twenty-First Century | |
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| Population | |
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| Population and the Environment | |
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| Income Inequality and Economic Development | |
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| Solutions | |
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| Political and Financial Instability | |
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| Political Instability | |
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| Financial Instability | |
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| A Preview of the Twenty-First Century | |
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| Index | |