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Harvey Leibenstein (1922 – February 28, 1994) was a Ukrainian-born American economist.One of his most important contributions to economics was the concept of X-inefficiency and the critical minimum effort thesis in development economics.
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 ...
Citing the limited size of the market as the main impediment in economic growth, Nurkse reasons that an increase in productivity can create a virtuous circle of growth. [7] Thus, a large scale investment programme in a wide array of industries simultaneously is the answer.
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.
Among the further results of these events, fewer local taxes are collected in a time when more social services is required and a vicious downward cumulative cycle is started and a trend towards a lower level of development will be further reinforced. A status of non-equilibrium is shaped, or as he writes:
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Social cycle theories are among the earliest social theories in sociology.Unlike the theory of social evolutionism, which views the evolution of society and human history as progressing in some new, unique direction(s), sociological cycle theory argues that events and stages of society and history generally repeat themselves in cycles.