Balanced theories are based on the principal that growth should be sought in all sectors ofthe economy at the same level. Therefore, economic growth should be based on growth in all sector of the economy. These theories are thus termed as "Balanced Theories", which propose balanced growth achieved through growth in all sectors of the economy.
These theories suggest that size of the market is very small in developing economics. Moreover, these economies face dearth of entrepreneurs. Therefore, the role of the government is very crucial in countries where balanced theories are practiced.
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