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Nurkse is one of the founding fathers of Classical Development Economics. Together with Rosenstein-Rodan and Mandelbaum, he promoted a 'theory of the big push', emphasized the role of savings and capital formation in economic development, and argued that poor nations remained poor because of a 'vicious circle of poverty'.
Controversial educational psychologist Ruby K. Payne, author of A Framework for Understanding Poverty, distinguishes between situational poverty, which can generally be traced to a specific incident within the lifetimes of the person or family members in poverty, and generational poverty, which is a cycle that passes from generation to ...
Concerning his critical minimum effort thesis, he claimed that the underdeveloped countries are trapped by the vicious circle of poverty and many other growth retarding factors, which keep them in the state of backwardness.Those countries need to increase their per capita income to a certain level in which they can maintain a self-sustained ...
Cyclical downswing is a feature of an advanced stage of sustained growth rather than of the vicious cycle of poverty. Hirschman also stated that during conditions of slack activity in developed countries, the stock of resources, machines and entrepreneurs are merely unemployed, and are present as idle capacity.
Poverty in Austrian Galicia was extreme, particularly in the late 19th century. Reasons included little interest in reforms on the part of major landowners and the Austrian government, population growth resulting in small peasant plots, inadequate education, primitive agricultural techniques, a vicious circle of chronic malnutrition, famines ...
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. [1] It is a system with no tendency toward equilibrium ( social , economic , ecological , etc.), at least in the short run.
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He begins by differentiating so-called "case poverty" of individuals (as detailed years earlier in The Affluent Society) from "mass poverty", largely observed in rural areas of the developing world. Galbraith discusses a variety of different explanations for poverty, e.g. climate, mountains, access to harbours, raw materials, culture or ...