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Acknowledgement
The author wishes to thank David Clark for valuable comments.
About the Author
Adolfo Figueroa is Professor Emeritus of Economics at Centrum Graduate Business School, Pontifical Catholic University of Peru.
Notes
1. To cite Brazil again, the government of the “New Brazil” (more equal) spent a lot of fiscal resources to build or re-build football stadiums for the World Cup 2014 in the middle of protests of the people (covered by the international media), who demanded more education and health expenditure instead.