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Can anyone let me know some of the limitations of mainstream economics in addressing the problems of the developing countries?
Limitations of Mainstream Economics
Regarding the question, mainstream is not capable of accounting for the value of ecosystem services, not does mainstream economics consider the values of voluntary services such as caring for older relatives, persons with disabilities or social services.
Crime and sickness can be positive as they allow for the movement of money.
Because, the important resources are not accounted for in national accounts, the governments do not allocate sufficient funds & opportunities for their maintenance. When measuring the progress through GDP, preventing crime or controlling smoking might not sound edible
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