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The fifth-wave of economic development began in the 1990s with a two-fold interest in providing market solutions and regional strategies for development. The idea of a comparative advantage has been integral to the development of the fifth-wave. This wave has been marked by economic developers who work to emphasize unmet demand, function as a ...
In Smihula theory technological revolutions are the main engine of economic development, and hence long-term economic cycles are dependent on these waves of technological innovation. [7] Smihula identified during the modern age in society six waves of technological innovations begun by technological revolutions (one of them is a hypothetical ...
Loevinger's stages of ego development, 'conceptualize a theory of ego development that was based on Erikson's psychosocial model', as well as on the works of Harry Stack Sullivan, and in which 'the ego was theorized to mature and evolve through stages across the lifespan as a result of a dynamic interaction between the inner self and the outer ...
The development of one or more substantial manufacturing sectors with a high rate of growth; he indicates the leading sectors in the economy. Rostow regards the development of leading sectors as the 'analytical bone structure' of the stages of economic growth. There are generally three sectors of an economy: Primary Sector - Agriculture
Long wave theory is not accepted by many academic economists. However, it is important for innovation-based, development and evolutionary economics . Yet, among economists who accept it, there has been no formal universal agreement about the standards that should be used universally to place the start and end years for each wave.
Human development theory is a theory which uses ideas from different origins, such as ecology, sustainable development, feminism and welfare economics. It wants to avoid normative politics and is focused on how social capital and instructional capital can be deployed to optimize the overall value of human capital in an economy.
The theory is based on the assumption that not only are there similar stages to development for all countries but also that there is a linear movement from one stage to another that goes from traditional or primitive to modern or industrialized. [3]
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as: Early / monopoly / state monopoly capitalism ; Free trade / monopoly / finance capitalism