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> the fact is a lot of these poor countries have not been converging on lots of quality of life metrics that matter What kinds of measurements are you referrin
by marcosdumay 9mo ago
> the fact is a lot of these poor countries have not been converging on lots of quality of life metrics that matter
What kinds of measurements are you referring to? Because poor countries are absurdly clearly converging since the end of WWII, but only if you don't ignore things like political independence, lack of civil wars, lack of state sponsored terror, or food security.
Those things contribute less to the GDP than fridges that break every 4 years.
Anyway, yes, there is some serious discussion on whether that process has stopped. This article isn't very good, the source it's extending from isn't trying to compare actual wealth, but still something may have happened recently.
And yes, it's probably the culprit everybody suspects, and economists should be louder in recognizing that some of their schools are in fact fraudulent.