Direct product of projective modules

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For any nonempty family like $\{ {M_\alpha}\}_{\alpha \in I}$ of $R$-modules we know that if $\prod_{\alpha \in I} M_\alpha$ is a projective $R$-module,then for all $\alpha \in I$, $\{ {M_\alpha}\}_{\alpha \in I}$ is projective too. Is the converse true? If not give me a counter-example.

Any comments are welcome.

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A theorem by S. U. Chase states that for a ring $R$ the following conditions are equivalent:

  1. $R$ is left perfect and right coherent

  2. every product of projective left $R$-modules is projective

It's Theorem 3.3 in S. U. Chase, Direct products of modules, Transactions of the American Mathematical Society, 97 (1960), 457–473.

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(“Finitely related” is nowadays more commonly referred to as “finitely presented”.)

So you just need to take a non left perfect ring and you have a counterexample: a suitable direct power of the regular module won't be projective.