According to Willliamson our standard neoclassical economic objective should lead us to study real wage convergence, rather than output per person convergence. Describe exactly what is meant by the term "modern economic growth", how this type of growth is linked to the standard neoclassical economic objective, and why this link leads Williamson to focus on real wages.?

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Modern economic growth refers to sustained increases in real per capita income over time typically d... View the full answer