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Conclusion

Looking back at any major economist the leading question is: what did he do that will last? Here, Ian Little's major impact is his argument that prices mat­ter, and that standard economic theory must be adapted to the particular fea­tures of developing countries, not abandoned altogether. Today, this is the orthodox view, so that many would not think of it as coming from Little, and a few other writers, such as Scitovsky and Scott. That is what happens with many leading contributions: They are first rejected as false, then dismissed as obvious.

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Source: Cord Robert A. (ed.). The Palgrave Companion to Oxford Economics. Palgrave Macmillan,2021. — 819 p. 2021

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