Explain if Smith or Jones is more likely to be an economist.

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While serving as Chief Economist for the World Bank, the Neoclassical Economist, Lawrence Summers, argued that "the World Bank should be encouraging MORE migration of the dirty industries to the LDCs (Less Developed Countries). What was the reasoning behind his argument? The value of a human life should be based upon a person's income. Therefore, the cost of sickness and death caused by pollution would be lowest in countries with the lowest wages. LDCs have less political power to resist polluting industries. This would create employment in the LDCs, thereby raising living standards. While serving as Chief Economist for the World Bank, the Neoclassical Economist, Lawrence Summers, argued that "the World Bank should be encouraging MORE migration of the dirty industries to the LDCs (Less Developed Countries). What was the reasoning behind his argument? The value of a human life should be based upon a person's income. Therefore, the cost of sickness and death caused by pollution would be…

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Chapter 1, Problem 10QP

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Explain if Smith or Jones is more likely to be an economist.

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While serving as Chief Economist for the World Bank, the Neoclassical Economist, Lawrence Summers, argued that "the World Bank should be encouraging MORE migration of the dirty industries to the LDCs (Less Developed Countries). What was the reasoning behind his argument? The value of a human life should be based upon a person's income. Therefore, the cost of sickness and death caused by pollution would be lowest in countries with the lowest wages. LDCs have less political power to resist polluting industries. This would create employment in the LDCs, thereby raising living standards. While serving as Chief Economist for the World Bank, the Neoclassical Economist, Lawrence Summers, argued that "the World Bank should be encouraging MORE migration of the dirty industries to the LDCs (Less Developed Countries). What was the reasoning behind his argument? The value of a human life should be based upon a person's income. Therefore, the cost of sickness and death caused by pollution would be…

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