Who has Given the Concept of the Vicious Circle of Poverty?

By Shiwani Kumari|Updated : July 25th, 2022
  1. Karl Marx
  2. Nurkse
  3. Adam Smith
  4. None of the above

Answer - Option B, Nurkse

Professor Ragnar Nurkse, an economist gave the concept of the vicious cycle of poverty. 

  • As per the concept of the vicious cycle of poverty given by Nurkse, a low-income level will lead to a low-income level of income and savings. This is usually in 
  • Therefore, there will be a low rate of investment thereby leading to a decrease in the rate of productivity that will again lead to low income. 
  • To rectify this problem, he gave two solutions: 
    • The solution to the supply side of the vicious circle: An increase in savings and investments should be done.
    • A solution to the demand-side vicious circle: The extent of the market should be widened so that people invest more.

Summary: 

Who has Given the Concept of the Vicious Circle of Poverty?

An economist named Professor Ragnar Nurkse gave the concept of the vicious cycle of poverty in 1953. This concept was introduced to show a low level of economic activity.

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