8. How would you respond to the following argument: Economic theory makes no sense. For example, poor

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8. How would you respond to the following argument: ‘Economic theory makes no sense. For example, poor countries have very little capital. But capital has diminishing marginal productivity. So in poor countries the marginal productivity of capital must be high. But then if capital is so productive in those countries, why is everyone there not rich?’ LO 14.5 HARD

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