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 International Economy FOR MORE CLASSES VISIT
www.tutorialoutlet.com Uncorrected Proofs
Copyright Cornell University Introduction Construc
ting the International Economy Rawi Abdelal, Mark
Blyth, and Craig Parsons We have, as a rule, only
the vaguest idea of any but the most direct
consequences of our acts. Now the whole object of
the accumulation of wealth is to produce results,
or potential results, at a comparatively distant,
and sometimes an infinitely distant date. Thus
the fact that our knowledge of the world is
fluctuating, vague, and uncertain, renders wealth
a peculiarly unsuitable topic for the methods of
classical economic theory. . . . About these
matters there is no scientific basis on which to
form a calculable probability whatever. We simply
do not know. John Maynard Keynes, 1937 T he world
is, as they say, complicated. The world economy
is especially so. Unpredicted events often
influence markets in improbable ways. Individuals
and organizationsfirms, governmentssurprise
observers by behaving in ways that appear
contrary to their presumed material interests as
events defy the categories and concepts we
construct to contain them.
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