>> Accounting Basics
Economist Charles Kenny of the Center for Global Development has argued: The process technologies-institutions like laws and inventory management systems-that appear central to raising incomes per capita flow less like water and more like bricks. But ideas and inventions-the importance of [education] and vaccines for DPT-really might flow more easily across borders and over distances. If Kenny is correct, what are the implications of these facts for the ability of low-income countries to rapidly increase their rates of growth of real GDP per capita in the decades ahead? What are the implications for the ability of these countries to increase their standards of living? Briefly explain.