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Recall the Anna Karenina principle: All happy families are alike; each unhappy family is unhappy in its own way. Now consider the following statement:

Recall the Anna Karenina principle: All happy families are alike; each unhappy family is unhappy in its own way." Now consider the following statement: "All developed economies are alike; each underdeveloped economy is underdeveloped in its own way." Briefly discuss the merits or demerits of applying the Anna Karenina principle in the domain of economic development.

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