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W. A. Lewis’ Theory Of Unlimited Supply Of Labour

W. A. Lewis’ Theory Of Unlimited Supply Of Labour W. Arthur Lewis’ theory is based on his proposition of unlimited supply of labour. Like the classical economists, he believed that in underdeveloped economies supply of labour...

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Rosenstein Rodan’s theory of Balanced Growth

ROSENSTEIN RODAN’S THEORY OF BALANCED GROWTH Rosenstein Rodan advocated “big push” theory which emphasizes that a “big push” or a large comprehensive investment is needed in order to overcome the obstacle to development in an underdeveloped economy....

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Briefly describe meaning and concept of Balanced Growth

Balanced Growth : Concept and Meaning Briefly describe meaning and concept of Balanced Growth Just as a war cannot be won without a suitable strategy, similarly the objective of rapid economic development cannot be achieved...

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BASIC PRINCIPLES OF NEO-LIBERALISM

BASIC PRINCIPLES OF NEO-LIBERALISM Neo-liberalism revolves around two central principles: (1) that the factors of production get paid what they are worth and (2) that free markets will not let factors go waste. The Neo-liberal economics...

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What is the difference between Liberalism and Neo-liberalism

What is the difference between Liberalism and Neo-liberalism The classical liberalism sees the role of state as a night watchman, upholding only the most fundamental aspects of public order like the armed forces and law enforcement....

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Differences between Economic Growth and Economic Development

DIFFERENCES BETWEEN ECONOMIC DEVELOPMENT AND ECONOMIC GROWTH Now, we will outline the differences between economic development and economic growth. The main differences between economic development and economic growth are 1.  Development is a discontinuous and spontaneous...

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