unbalance growth theory propounded by who?
(1) Gunnar
(2) Hirchman
(3) Rostow
(4) Marx
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According to Hirschman, “Development is a chain of disequilibria that must be kept alive rather than eliminate the disequilibrium of which profits and losses are symptoms in a competitive economy.
If economy is to keep moving ahead, the task of development policy is to maintain, tension, disproportions and disequilibria.”
“Unbalanced growth is a better development strategy to concentrate available resources on types of investment, which help to make the economic system more elastic, more capable of expansion under the stimulus of expanded market and expanding demand”-H.W.Singer.
According to Alak Ghosh,
“Planning with unbalanced growth emphasizes the fact that during the planning period investment will grow at a higher rate than income and income at a higher rate than consumption.”
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It explains the unbalanced growth in terms of the growth rates of investment, income and consumption. If ∆I/I, ∆Y/Y and ∆C/C denote the rate of investment, income and consumption, then unbalanced growth implies
∆I/I > ∆Y/Y > ∆C/C
i.e., the growth rates are not uniform.
According to Benjamin Higgin, “Deliberate unbalancing of the economy, in accordance with a pre-designed strategy is the best way to achieve the economic growth.”
If economy is to keep moving ahead, the task of development policy is to maintain, tension, disproportions and disequilibria.”
“Unbalanced growth is a better development strategy to concentrate available resources on types of investment, which help to make the economic system more elastic, more capable of expansion under the stimulus of expanded market and expanding demand”-H.W.Singer.
According to Alak Ghosh,
“Planning with unbalanced growth emphasizes the fact that during the planning period investment will grow at a higher rate than income and income at a higher rate than consumption.”
ADVERTISEMENTS:
It explains the unbalanced growth in terms of the growth rates of investment, income and consumption. If ∆I/I, ∆Y/Y and ∆C/C denote the rate of investment, income and consumption, then unbalanced growth implies
∆I/I > ∆Y/Y > ∆C/C
i.e., the growth rates are not uniform.
According to Benjamin Higgin, “Deliberate unbalancing of the economy, in accordance with a pre-designed strategy is the best way to achieve the economic growth.”
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