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Kuznets' six characteristics of modern economic growth are discussed:

  • High rates of growth of per capita incomes.
  • High rates of growth of total factor productivity.
  • High rates of structural transformation of the economy.
  • High rates of social and ideological transformation.
  • Growth of trade, specifically import of raw materials and export of manufactures.
  • Limited spread of development to only a third of the world population
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