Author name: Varsha Verma

4.6VICIOUS CIRCLE OF POVERTY

Nurkse introduces the concept of the vicious circle of poverty to elucidate the origins of poverty. This phenomenon is characterized by self-perpetuating factors that create a circular interplay, leading to the persistent cycle of poverty and underdevelopment. In Nurkse’s words, the vicious circle of poverty involves a continuous interaction of forces that contribute to maintaining

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