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According to this theory, the primitive sector consists of the existing agricultural sector in the economy, and the modern sector is the rapidly emerging but small industrial sector. [3] Both the sectors co-exist in the economy, wherein lies the crux of the development problem.
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 factor interpretation of the exchange value, accepted by Econodynamics, is based on the Smith-Marx's labour theory of value, according to which efforts of workers are the most essential production factor. The theory is completed by the law of substitution, which states that the workers efforts in production of value could be substituted by ...
Edelman, in his theory of neuronal development, showed that development occurs in the brain between neuro-networks that overlap and interconnect. The epigenetic process of neural development is grounded in the idea of experience-dependent changes which is development or growth by selectively and simultaneously reinforcing neural pathways. [ 9 ]
It relies on the idea that there are multi-directional interactions between biological and psychological factors, meaning probabilistic epigenesis is a non-hierarchical model of understanding development. [3] The biological factors, also known as genetic determinants, involve an individual's genetic makeup, and how it influences their behavior. [3]
Linder proposed an alternative theory of trade that was consistent with Leontief's findings. The Linder hypothesis presents a demand based theory of trade in contrast to the usual supply based theories involving factor endowments. Linder hypothesized that nations with similar demands would develop similar industries.
U.S. President-elect Donald Trump is making good on his threats to go after the media in court, with several recent lawsuits seeking damages against major publishers over what he describes as ...
Prebisch began with arguments that economic inequality and distorted development was an inherent structural feature of the global system exchange. As such, early structuralist models emphasised both internal and external disequilibria arising from the productive structure and its interactions with the dependent relationship developing countries ...