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The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area where it was ...
Raymond Vernon (September 1, 1913 – August 26, 1999) was an American economist. He was a member of the group that developed the Marshall Plan after World War II and later played a role in the development of the International Monetary Fund and the General Agreement on Tariffs and Trade .
Adler was influenced by the writings of Hans Vaihinger, and his concept of fictionalism, mental constructs, or working models of how to interpret the world. [1] From them he evolved his notion of the teleological goal of an individual's personality, a fictive ideal, which he later elaborated with the means for attaining it into the whole style of life.
Adler also describes the self as part of a reflection of the thoughts of others, seeing self-esteem as determined, in part, by feelings toward significant others. [4] According to Adler, people are inherently motivated to engage in social activities, relate to other people, and acquire a style of life that is fundamentally social in nature. [5]
The key for the theory is the rate of diffusion of technology. Moving on to 1966, Vernon further extended the technology gap model into the product life-cycle theory. [2] The degree of maturity of the technology became the new key of the dynamic economic trade. Vernon's theory resonances with the technology gap theory.
The theory originates from the work of Raymond Vernon, who described the development of international trade in terms of product life-cycle – a period of time during which the product circulates in the market. Vernon stated that some countries specialize in the production and export of technologically new products, while others specialize in ...
This theory would also be extended to humans. Alfred Adler (1879–1937) measured "activity" (connected with "energy") against "social interest", yielding the four "styles of life": [3] Ruling or Dominant type: high activity, low social interest; Getting or Leaning type: low activity, high social interest; Avoiding type: low activity, low ...
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