Question
The term "Vicious Cycle" was proposed by
The correct answer is
Gunnar Myrdal
Vicious Cycle Term Origin
The term "Vicious Cycle" in the context of social and economic development is primarily attributed to the Swedish economist and sociologist Gunnar Myrdal.
Myrdal extensively used and popularized this concept, particularly in his seminal work An American Dilemma: The Negro Problem and Modern Democracy (1944), to describe self-reinforcing patterns of poverty and inequality.
A vicious cycle refers to a situation where adverse conditions reinforce themselves, creating a detrimental loop that is difficult to escape.
Therefore, Gunnar Myrdal is credited with proposing and developing the concept.
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Important Questions from Economic Growth & Development
- The following Economics Terms can be arrange in chronological order on the basis of the concept development :
(i) Scarcity definition.
(ii)wealth definition
(iii)Growth definition.
(iv) welfare definition. - What is the key distinction between productive and non-productive work in Classical Economic Theory?
- Which among the following conditions are true for Golden Rule of Accumulation of Edmund Phelps for optimum capital accumulation ? Choose from the code below :
I. Savings rate is unique.
II. Marginal productivity of capital be equal to capital depreciation.
Codes : - Which of the following is the correct assumption for the Lewis two sector model ?
- Which of the following is a major indivisibility of Rosenstein-Rodan Model of development ?
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