Question:
Who gave the concept of the ‘vicious circle of poverty’?
Who gave the concept of the ‘vicious circle of poverty’?
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Vicious circle of poverty = {Nurkse}; Kuznets is known for the inverted-U income–inequality curve.
Updated On: Oct 19, 2025
- Simon Kuznets
- Keynes
- Alfred Marshall
- Ragnar Nurkse
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The Correct Option is D
Solution and Explanation
Step 1: Theory.
Ragnar Nurkse explained how low income → low saving → low investment → low productivity → again low income, trapping poor economies.
Step 2: Application.
Breaking the circle needs investment, human capital formation, and demand expansion.
Ragnar Nurkse explained how low income → low saving → low investment → low productivity → again low income, trapping poor economies.
Step 2: Application.
Breaking the circle needs investment, human capital formation, and demand expansion.
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