Nelson's Low Level Equilibrium Trap

Описание к видео Nelson's Low Level Equilibrium Trap

The low-level equilibrium trap is a concept given by Richard R. Nelson, in which at low levels of per capita income people are too poor to save and invest much, and this low level of investment results in a low rate of growth in national income. The vicious cycle of poverty is formed. To come out a big push is required.
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