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Economic Growth Theories Explained by ScribdTranslations is a document available to read on EtoBox.
The classical theory of economic growth by Adam Smith holds that labor produces wealth, which is distributed through the market. The state should not intervene in the economy except to ensure capital accumulation. The theory of peripheral capitalism explains that the economies of Latin America remain technologically and economically lagging due to their role as suppliers to the core economies of countries such as the United States and Europe. The CEPAL analyzes the economic cycles.
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