"After slavery ended in the US in 1865, the country’s black population faced a huge problem. Because they had been slaves, they were uneducated and had no property or skills. Yet they were expected to now compete in employment or in entrepreneurship with the rest of America. So the major question facing the leaders was this: how do we educate our people to be self-reliant?"
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"Economic growth occurs if output grows faster than population. Given the described assumptions about the way people behave, economic growth will occur if property rights make it worthwhile to undertak…"
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