In modern economies, the effects of government policies show up first and fastest in employment.
In combination, all of these factors will prove irresistible for most if not all modern economies.
The claimed flexibility of rich, modern economies does seem to make them more resilient.
South Africa's response to its lack of oil contrasts with that of other similarly disadvantaged modern economies.
Nonetheless, American monetary policy strategy is less transparent and more personalised than in many other modern economies.
Tens of thousands of entrepreneurs from one of the most successful modern economies have fanned out across the continent.
For much of the financial crisis that started in 2007, Germany remained strong and held the envy of modern economies around the world.
Carbon dioxide emissions come from energy use, and energy is the key factor that makes modern economies so much more productive than pre-industrial societies.
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El Salvador is one of Central America's more modern economies.
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If the supply is cut off even for a few days, modern economies come to a halt, as Britain discovered when tax protestors blockaded some domestic oil depots two years ago.
The most-important single feature of modern economies is growth.
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This points out a fundamental fact that is key when considering the solution to our current woes: in modern, developed capitalist economies, recessions are not a function of the nation being unable to supply the goods and services desired by consumers.
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But that still leaves the problem of smoothing production at the factory to preserve the economies of scale, which even in modern scaled-down plants require a throughput of about 250, 000 cars a year.
After 1800, however, living standards began to increase, first in the West, as stagnant economies transitioned to the industrial revolution and to a period of modern economic growth where living standards double every 35 years.
Modern economics also emphasises the importance of dynamic gains, arising especially from the economies of scale that freer trade makes possible.
Their economies were less productive, so they lacked the tax base needed to sustain modern armies.
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Central American governments do not collect enough tax revenue to provide the rudiments of a modern state: security, education and health for their people, and transport infrastructure to allow their economies to reap the full benefit of their privileged position close to the United States.
This odd situation became apparent when Mr Midler witnessed large, modern Chinese factories outsourcing work to smaller, grittier, facilities even though this meant forgoing the production benefits from economies of scale.
In the rich economies too the mix of jobs is changing rapidly, away from manufacturing and towards services, ancient and modern.
But the country has yet to develop modern capitalist enterprises that will release the ingenuity and creativity of its people and help it compete effectively against other advanced economies.
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