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Robert Lucas's Why doesn't capital flow from rich to poor countries?-logo

Robert Lucas's Why doesn't capital flow from rich to poor countries?

Robert E. Lucas

Because the potential returns appear to be greater in poorer countries than in the developed world, modern economic theory implies that rich countries should continually invest in poor countries until returns balance out. But this doesn’t happen – and economist Robert E. Lucas Jr. asked why in his ground-breaking 1990 article on what has become known as the Lucas paradox. Lucas analyzes the problem, focusing especially on the role of human capital—the skill and experience that people bring to their work. The Lucas paradox is important not just to economists, but to anyone interested in understanding how economic development works in poorer countries.

Because the potential returns appear to be greater in poorer countries than in the developed world, modern economic theory implies that rich countries should continually invest in poor countries until returns balance out. But this doesn’t happen – and economist Robert E. Lucas Jr. asked why in his ground-breaking 1990 article on what has become known as the Lucas paradox. Lucas analyzes the problem, focusing especially on the role of human capital—the skill and experience that people bring to their work. The Lucas paradox is important not just to economists, but to anyone interested in understanding how economic development works in poorer countries.
More Information

Description:

Because the potential returns appear to be greater in poorer countries than in the developed world, modern economic theory implies that rich countries should continually invest in poor countries until returns balance out. But this doesn’t happen – and economist Robert E. Lucas Jr. asked why in his ground-breaking 1990 article on what has become known as the Lucas paradox. Lucas analyzes the problem, focusing especially on the role of human capital—the skill and experience that people bring to their work. The Lucas paradox is important not just to economists, but to anyone interested in understanding how economic development works in poorer countries.

Language:

English

Narrators:

Pádraig Belton, Macat.com

Length:

4h


Chapters

Chapter 1
Chapter 1

13:28


Chapter 2
Chapter 2

13:28


Chapter 3
Chapter 3

08:01


Chapter 4
Chapter 4

09:09


Chapter 5
Chapter 5

08:42


Chapter 6
Chapter 6

09:13


Chapter 7
Chapter 7

09:00


Chapter 8
Chapter 8

08:41


Chapter 9
Chapter 9

07:03


Chapter 10
Chapter 10

10:40


Chapter 11
Chapter 11

09:27


Chapter 12
Chapter 12

09:01


Chapter 13
Chapter 13

08:04


Chapter 14
Chapter 14

09:38


Chapter 15
Chapter 15

08:01


Chapter 16
Chapter 16

09:09


Chapter 17
Chapter 17

08:42


Chapter 18
Chapter 18

09:13


Chapter 19
Chapter 19

09:00


Chapter 20
Chapter 20

08:41


Chapter 21
Chapter 21

07:03


Chapter 22
Chapter 22

10:40


Chapter 23
Chapter 23

09:27


Chapter 24
Chapter 24

09:01


Chapter 25
Chapter 25

08:04


Chapter 26
Chapter 26

09:39