Professor Mark J. Perry's Blog for Economics and Finance
In 1820, US had only about 2% of world GDP and China and India together had about 50% of world GDP! By 1950, the US had about 25% of world output and China and India together had about only 10% of world output. Now India and China are both growing faster than the U.S. Conclusion: Markets work!
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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