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Read Paul Krugman's "The Myth of Asia's Miracle", Foreign Affairs 73, no 6, Nov/DEc 1995.
Explain Krugman's arguments using the Solow model and the Cobb-Doublas production function. You must connect Krugman's argument with the model discussed in class. What is your own view? Provide arguments and facts not included in this article to support your view.