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Several other forms of poverty traps are discussed in the literature, [73] including nations being landlocked with bad neighbors; a vicious cycle of violent conflict; subsistence traps in which farmers wait for middlemen before they specialize but middlemen wait for a region to specialize first; working capital traps in which petty sellers have ...
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'.
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.
Hans Singer asserted that the balanced growth theory is more applicable to cure an economy facing a cyclical downswing. [7] 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 ...
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 ...
Fresh tariffs could be detrimental to global growth and lead retaliation and a vicious circle of trade war, European Central Bank Vice President Luis de Guindos said after Donald Trump won the U.S ...
Theories on the causes of poverty are the foundation upon which poverty reduction strategies are based. While in developed nations poverty is often seen as either a personal or a structural defect, in developing nations the issue of poverty is more profound due to the lack of governmental funds.
The New Year -- and the entire month of January -- is often the busiest time at the gym. This increase is largely driven by New Year's resolutions as more people set fitness and health goals. Read...