Hey, boys!! ( and girls of course!! ;)). Here are my comments on - TopicsExpress



          

Hey, boys!! ( and girls of course!! ;)). Here are my comments on the previous post. I will take as robust the growth forecast assumed by the author. But still, the main weakness of the text is that it presupposes the existence of the tool, internet, can exploit all their potentials. Therefore, he transforms a necessary condition in a sufficient one, which is far from true in economics (as in real life). At the same time: a) Without knowledge of foreign languages (especially English but not only), which is scarce in countries with low per capita income, people cannot understand the information. b) Without skills to manage, first, all the huge information’s bunch on the net, and understand, after, how the available tools work, is not possible to use them. And that knowledge is assumed to exist when human capital in these countries is modest. c) Trade relations demand (formal) institutions to ensure contracts compliance. First of all, trust that all parties will meet what has been agreed. And that, otherwise, it is possible to minimize transaction costs (legal, economic, international agreements, etc). But all that is far from being the actual situation in low per capita income countries. So...
Posted on: Mon, 19 Jan 2015 21:24:54 +0000

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