Abstract
In the period after the Second World War, the main development tendencies of the world economy have been determined by processes that have come into being for socio-political reasons, basically as a result of the necessary worldwide competition and struggle between socialism and capitalism.
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References
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Prof. Galbraith presents an illuminating picture of this mechanism in chapters XV-XIX (on prices and the manipulation of demand) of his above-quoted work.
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The health training capacity of the USA, for example, does not satisfy the needs of the country. Out of the total hospital staff of the USA, the ratios of those who had gained their higher education abroad were 9 per cent in 1951, 24 per cent in 1964 and 30 per cent in 1967. A significant percentage of each of them came from the developing countries via “brain drain” to the USA, where public health service is at a rather low level. (The Financial Times, May 8, 1968). In the years 1967 to 1973, the number of those who had received a medical degree was between 7,400 and 9,300 a year, while the number of immigrant physicians and surgeons was around 3,300 to 7,100 Statistical Abstract of the United States, 1976, pp. 146 and 575.
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Bourgeois economists regarded the social (collective) costs stemming from pollution caused by private enterprises, e.g. the costs of converting polluted water into drinking water, as external costs, and had treated them up to the 1970s as arising only in exceptional cases. However, these external costs assumed such high proportions in the 1960s that “it was no longer possible to neglect”. (Business in Brief, No. 103, New York, Chase Manhattan Bank, N. A.)
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Nyilas, J. (1982). Socio-Political Factors in the Development of the World Economy. In: World Economy and Its Main Development Tendencies. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-3502-5_8
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