Explain vicious circle of poverty.
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Vicious Circle of Poverty. ADVERTISEMENTS: According to the principle of vicious circle in UDCs' level of income remains low which leads to low level of saving and investment. ... “It implies circular constellation of forces tending to act and react one another in such a way as to keep a poor country in a state of poverty
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According to the principle of vicious circle in UDCs’ level of income remains low which leads to low level of saving and investment.
Low investment leads to low productivity which again leads to low income.
According to Prof. Nurkse. “It implies circular constellation of forces tending to act and react one another in such a way as to keep a poor country in a state of poverty. He cited an example of a poor man.
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