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Amongst other things, relatively open trading systems with zero or low duties on goods imports tended to stimulate industrial cost-efficiency and innovation across the board. Free and flexible labor and other markets also helped raise general business-economic performance levels, as did rapid popular learning capabilities. Positive work ethics in populations at large combined with skills in quickly utilizing new technologies and scientific discoveries were likely to boost production and income levels – and as the latter rose, markets for consumer goods and services of all kinds tended to expand and provide a further stimulus to industrial investment and economic growth...
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