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"More than four billion people--some 60 percent of humanity--live in debilitating poverty, on less than $5 per day. The standard narrative tells us this crisis is a natural phenomenon, having to do with climate, geography, and culture. It tells us all we have to do is give aid to help poor countries up the development ladder. If poor countries would only adopt the right institutions and economic policies, they could join the ranks of the rich world....
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