Why did early development theory tend to stress the importance of capital- intensive techniques for rapid...
Why did early development theory tend to stress the importance of capital- intensive techniques for rapid economic development?
Homework Answers
Early development theory focussed on capital intensive industries as these deployed large scale employment and helped economic condition to improve substantially
Moreover with mechanization and Industrial revolution these industrial activities saw hummoungous growth in production and hence GDP increased substantially
With risisng employment opportunities and wages the economy saw boost in output and robustness in growth.
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Why did early development theory tend to stress the importance
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