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Why does George Tait Edwards see Shimomuran-Wernerian macroeconomics as the key understanding in the future of mankind?
Why does George Tait Edwards see Shimomuran-Wernerian macroeconomics as the key understanding in the future of mankind?
Expert Solution
The Shimomuran Wernerian macroeconomics is the most successful realistic as well as detailed. It has a historical examination on how to come up with substantial capital in the form of wealth and prosperity. It has a foundation in continual personal inventions, continuous innovations in factories, a sub servant of the central bank, and an economically responsible government that fulfils its duties for care to all its members. The results are a prime condition for increasing the rate and quality of economic development.
According to George Tait, macroeconomics is responsible for all economic success snow and those that occurred in the last century. These have led to various economic miracles such as Taiwan's Economic Miracle, China's ongoing Economic Miracle, South Korea Economic Miracle as well as Japan's Post-War Economic Miracle 1945-1973. George suggests that Shimomura-Wernerian economics is one key to the best future of humankind that results. The macroeconomics produces widely diffused success through local banks supporting SMEs as well as the conservation of invention into innovation.
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