Discussion
According to Ragner Nurkse the starting point and continuation for development lies in ______
Answer: B
According to Ragnar Nurkse, the starting point and continuation of development lie in increasing the rate of capital formation, which breaks the vicious circle of poverty on both the demand and supply sides.
An organised money market, technological growth and removal of the dualistic economy are discussed by other theorists and are not Nurkse's starting point.
Nurkse's thesis is the vicious circle of poverty: low income leads to low saving and so low capital, which keeps productivity and income low, and only more capital formation breaks the circle.
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